CALGARY, Oct. 25, 2012 /CNW/ - EEI on behalf of certain concerned shareholders, who own shares greater than 5% of the outstanding common shares of Alexander, had requested on Friday, October 19, 2012 that the Company call for a special meeting of the shareholders of Alexander for the purpose of replacing the Board of Directors.
Despite the recent announcement from the Company and letter from its Chairman stating everything with the Company is fine, it is with great reluctance, and after hundreds of hours of advisory services committed for this Company, that EEI on behalf of the shareholders it represents has taken the unusual step of requesting a shareholders' meeting to replace the entire Board of Directors of this Company. It appears in EEI's opinion that, after reviewing the Company's go-forward strategy released October 23, 2012, that estimates little to no growth, this Board and management lack the understanding of the capital markets and just how difficult it will be for this Company to access equity capital at affordable levels and to garner the attention of the investment community. Without this capital and support from the investment community it will, in EEI's opinion, be very difficult for the Company to deliver any meaningful performance to its shareholders.
EEI looks forward to discussions with other concerned shareholders about this Company.
- Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release-
SOURCE: Emerging Equities Inc.
For further information:
James B. Hartwell
President & CEO
EMERGING EQUITIES INC.
Suite 269, 255 - 5 Avenue SW
Calgary, Alberta T2P 3G6
Direct: (403) 216-8201 / Fax: (403) 216-8221