MONTREAL, Jan. 10, 2013 /CNW Telbec/ - Montrusco Bolton Investments Inc. ("MBI") confirmed today that it has requested the addition of three items to the agenda (the "Proposals") of the next annual general meeting of shareholders ("AGM) of The Cash Store Financial Services Inc. ("CSF" or the "Company") to be held in Edmonton on February 7th, 2013.
These three proposals aim to improve corporate focus and corporate governance at CSF. MBI believes that these measures are essential preliminary steps to ensure that CSF's equity market pricing eventually reflects its materially higher intrinsic value.
Unfortunately, the Company's management ("Management") appears convinced that status quo should continue. MBI therefore urges all CSF shareholders to vote FOR the Proposals, in order to give the Company's Board of Directors ("BOD") the strongest message possible that significant changes are imperative to avoid further destruction of shareholder value and to thereby play a much needed active role in improving corporate focus and corporate governance at CSF.
The Proposals are:
- The separation of the roles of Chairman and CEO
- The delisting of the Company's shares from the NYSE and retention of a single listing on the Canadian TSX
- The pursuit of strategic alternatives for the Company's non-core assets (essentially all the UK operations)
The full text of today's MBI press release, including detailed support of the Proposals, is available at http://www.montruscobolton.com/Publications/Publications Press Releases/2013 Press Releases/MBICSF-Jan-10-2013.pdf
SOURCE: MONTRUSCO BOLTON INVESTMENTS
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Montrusco Bolton Investments Inc.