Glass Lewis & Co. Recommends Shareholders Vote "For" the Concerned Shareholders Slate of Directors
RESOURCE CAPITAL FUND V L.P., TERRAFIRMA SECURITIES HOLDINGS LLC and SKY ALBA PTY. LTD. ("THE CONCERNED SHAREHOLDERS") Urge Shareholders to Support THE CONCERNED SHAREHOLDERS and VOTE the yellow Proxy Card today
Glass, Lewis & Co. Recommends in Favor of the Concerned Shareholders Nominees
TORONTO, Sept. 12, 2012 /CNW/ - The Concerned Shareholders today announced that Glass Lewis & Co. ("Glass Lewis"), one of North Amercia's leading proxy advisory firms, recommends that its clients support the Concerned Shareholders Nominees. This follows yesterday's recommendation from ISS that shareholders vote "for" the Concerned Shareholders' board nominees.
In its September 11, 2012, report, Glass, Lewis and Co. stated:
"In this case, we believe the dissidents have identified significant areas of governance-related concerns that, when coupled with the Company's history of a failure to comply with industry-standard corporate governance practices, warrants the support of the Dissidents' nominees. Upon reviewing the arguments presented by both sides, we find grounds on which to support the Dissidents' notion that the revised board of directors will be in a position to bring increased transparency to the Company, which will be in the best interests of shareholders. Shareholders should note that our recommendation is based on the Company's corporate governance failures, as described below, and not on any performance failures or missteps."
Further, the Concerned Shareholders have received overwhelming support for this vote, and would like to thank those shareholders who have voted for the necessary changes to enhance the capability of the board and corporate governance standards at Forbes Coal.
We urge you to complete and return your YELLOW proxy form TODAY 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