ISS recommends shareholders vote "For" the Concerned shareholder nominees for election to the board of directors of Forbes & Manhattan Coal Corp.
Resource Capital Fund V L.P., Terrafirma Securities Holdings LLC and Sky Alba PTY. Ltd. ("Concerned shareholders") Urge Shareholders to VOTE the YELLOW Proxy Card today
ISS Recommends Support of the Concerned Shareholders' Nominees
TORONTO, Sept. 11, 2012 /CNW/ - The Concerned Shareholders today announced that Institutional Shareholder Services ("ISS"), Canada's leading proxy advisory firm, recommends that its clients support the Concerned Shareholders' Nominees. Recommendations by ISS are relied upon by hundreds of major institutional investment firms, mutual funds and other fiduciaries.
In its September 10, 2012, report, ISS stated:
"In light of the inadequate independence level of the current board and excessive executive compensation issues, the dissidents have made a compelling case that a change to the board is necessary at this time."
Forbes & Manhattan Coal Corp. will be holding its annual meeting of shareholders on September 17, 2012 at 65 Queen Street West, Suite 800, Toronto, Ontario M5H 2M5 at 10:00 a.m. (Toronto time). To ensure your vote counts, proxies should be received prior to 2:00 p.m. Toronto time, on September 12, 2012 using one of the methods described on the YELLOW form of proxy.
We urge you to complete your YELLOW proxy form to join us in sending a clear message to the Company that change is necessary to protect the interests of all shareholders.
Cautionary Note Regarding Forward Looking Statements
Certain statements contained herein are "forward looking statements" within the meaning of applicable securities laws. Often, but not always, forward-looking statements may be identified by their use of forward-looking terminology such as the words "plans", "expects", "expected", "projects", "believes", "anticipates", "intends", "estimates", "scheduled" or other similar words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to known and unknown risks, uncertainties and other factors which could cause actual results, performances or achievements to differ materially from future results expressed or implied by such forward looking statements. Factors related to such risks and uncertainties, and underlying estimates and assumptions include, among others, the Concerned Shareholders' assessment of the effect of the proposed changes on the Company and on the shareholders of the Company, the timing and prospects for the implementation thereof, general economic and market conditions, changes in law and the ability to implement business strategies and pursue business opportunities. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with applicable Canadian securities commissions, copies of which are available at www.sedar.com. Accordingly, undue reliance should not be placed on forward looking statements or information. We do not expect to update forward-looking statements or information continually as conditions change, except as may be required by law.
SOURCE: Resource Capital Fund V L.P.For further information:
If you have any questions about the information contained in this press release or require assistance in completing your proxy form, please contact:
North American Toll Free Number: 1-888-605-8411
RCF Contact: Mason Hills, Partner, +1 720 946 1444