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Nautilus sets the record straight
11 Dec '07
3 min read
Global fitness company Nautilus Inc announced that it has mailed the following letter to its shareholders:
December 11, 2007.
Dear Fellow Shareholder:
The Special Meeting of Shareholders is just days away. We need your support for your Board's nominees, who are committed to building value for all Nautilus shareholders.
There is still time for you to vote AGAINST the removal of your directors. To ensure that your vote is represented at the meeting, we urge you to vote by Internet or telephone by following the simple instructions on the enclosed WHITE proxy card.
Proxy Firms Unanimously Opposed to Control:
Recently, yet another proxy advisory firm, Egan-Jones Proxy Services also advised their clients to reject Sherborne's proposals.
All four leading advisory firms, whose clients include institutional investors, mutual funds, pension funds and others, have concluded: Sherborne's bid for control of Nautilus removing four of your directors and replacing them with four Sherborne nominees is NOT in the best interest of all shareholders.
Nautilus Sets the Record Straight:
We would like to set the record straight with respect to some false and misleading statements made by Sherborne in a recent letter you may have received.
We believe that Sherborne's letter was simply a desperate reaction to the conclusions reached last week by three of the leading independent voting advisory services who recommended against Sherborne's bid for control of Nautilus.
December 11, 2007.
Dear Fellow Shareholder:
The Special Meeting of Shareholders is just days away. We need your support for your Board's nominees, who are committed to building value for all Nautilus shareholders.
There is still time for you to vote AGAINST the removal of your directors. To ensure that your vote is represented at the meeting, we urge you to vote by Internet or telephone by following the simple instructions on the enclosed WHITE proxy card.
Proxy Firms Unanimously Opposed to Control:
Recently, yet another proxy advisory firm, Egan-Jones Proxy Services also advised their clients to reject Sherborne's proposals.
All four leading advisory firms, whose clients include institutional investors, mutual funds, pension funds and others, have concluded: Sherborne's bid for control of Nautilus removing four of your directors and replacing them with four Sherborne nominees is NOT in the best interest of all shareholders.
Nautilus Sets the Record Straight:
We would like to set the record straight with respect to some false and misleading statements made by Sherborne in a recent letter you may have received.
We believe that Sherborne's letter was simply a desperate reaction to the conclusions reached last week by three of the leading independent voting advisory services who recommended against Sherborne's bid for control of Nautilus.
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