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
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