FrontFour urges shareholders of Renegade to take no action until its Proxy Circular is filed
GREENWICH, CT, Dec. 16, 2013 /CNW/ - In connection with the requisition for a special meeting of shareholders of Renegade Petroleum Ltd. ("Renegade", or the "Company") ("RPL-V; RPTTF-O") by FrontFour Capital Group LLC ("FrontFour"), FrontFour will be filing their Proxy Circular ("PC") on Sedar shortly.
On Thursday, December 12, 2013, management of Renegade filed an information circular seeking shareholder support for the Special Meeting scheduled for January 28, 2014. FrontFour urges shareholders to TAKE NO ACTION until having the benefit of receiving all the relevant facts.
The dissident circular will include a detailed business plan for creating shareholder value and clearly outline demands for accountability and good governance. In addition, the PC will include full backgrounds on FrontFour's independent nominees (collectively, the "Turnaround Nominees").
The Turnaround Nominees bring strong and relevant performance experience with the capabilities to implement a value-enhancing business plan that will best position the company for future growth benefiting all Renegade shareholders.
As of today, the Turnaround Nominees collectively own or represent approximately 8.2% of Renegade. Based on a review of publicly reported holdings, FrontFour is the second largest shareholder of the Company.
This news release does not constitute a solicitation of proxies, or a request not to execute a proxy, but simply a suggestion to wait.
About FrontFour Capital Group LLC:
Founded in 2006, FrontFour is an investment management company with offices in Greenwich, Connecticut and Toronto, Ontario.
The TSX Venture Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE FrontFour Capital Group LLCFor further information:
Tel: (203) 274-9053