Dear Fellow Stockholders:
Concerned ALCO Stockholders (“CAS”) would like to direct
We are asking ALCO investors to vote for the CAS nominees to effect the critical change necessary at the Board of Directors of ALCO.
CAS would also direct ALCO investors to our recent June 30th press release “Concerned ALCO Stockholders Respond to ALCO Threatened Litigation” (here). ALCO’s incumbent Board of Directors has indicated that it is considering filing legal action against CAS on the false premise that CAS’s group extends beyond its members as detailed in our Schedule 13D filing. The incumbent Board is also openly considering exercising the Rights Agreement on this false premise, using a de facto “poison pill” to attempt to thwart ALCO investors from having a clear, distinct and fair opportunity to determine the future governance of ALCO. CAS consists of highly knowledgeable professionals and investors who have no incentive to trigger the Rights Agreement.
CAS firmly believes that the incumbent Board is employing stall tactics and expensive legal distractions to both take attention away from ALCO’s poor share and operating performance, and to keep their current board positions at the expense of the stockholders. CAS looks forward to all ALCO stockholders casting their vote at the Annual Meeting and final tabulation and certification of the ongoing proxy process.
CAS would also like to direct ALCO investors to its own definitive 14A proxy statement, where for ALCO’s 2014 fiscal year Chairman of the Board
In addition to better governance of senior management and the oversight of the implementation of needed operating improvements, CAS will not permit this egregious level of Board compensation to continue.
We urge all ALCO investors to vote for the CAS slate of nominees to stop the poor governance and wanton spending of stockholders’ resources on frivolous legal maneuvers by the incumbent Board.
Source: Concerned ALCO Stockholders