Second Independent Advisory Firm Agrees with Eagle: Dissidents are NOT Better Suited to Lead Eagle. Vote the YELLOW Proxy Today.
CALGARY, June 19, 2017 /PRNewswire/ - (TSX: EGL): Eagle Energy Inc. announced that a second independent corporate governance and proxy advisory firm, Glass Lewis & Co. LLC, agrees with Eagle - the dissidents are NOT better suited to lead Eagle. They only stand to create greater uncertainty for Eagle's shareholders.
In its recent report, Glass Lewis concluded,
"...direct support for Kingsway's platform stands to generate greater uncertainty for investors at this time, both
-- with respect to the reconstituted board's ability to effectively manage
the consequences of Eagle's lending arrangements and
-- the Dissident's stated preference for quick asset sales in an
unattractive market."
This is the simple and straightforward Glass Lewis conclusion. The dissidents will of course ignore that conclusion. Instead, they will selectively point to Glass Lewis quotes that they think favor them, continuing to mislead Eagle shareholders.
Glass Lewis and Institutional Shareholder Services Inc. (ISS) have now both confirmed what Eagle has said all along:
Eagle Glass Lewis ISS
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The Dissidents' strategy will NOT create long
term value.
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Eagle will not obtain good value by a quick
asset sale in the currently depressed
market.
Eagle will lose any potential upside with its
assets.
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Eagle's loan can be called if there is a
change in control.
The dissidents have proposed no alternative
financing.
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The dissidents may not share the same
investment objectives or value maximizing
perspectives of remaining shareholders.
The dissidents themselves are on the buy side
of energy assets at this time. Mr. Gundersen
already tried to buy one of Eagle's assets
at below value.
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Do NOT vote for the dissident nominees using
the dissidents' proxy. Vote ONLY the Yellow
Proxy. SQRT SQRT SQRT
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Eagle's incumbent Board enjoys strong
support from Eagle's shareholders,
contrary to what
the dissidents may want shareholders
to believe.
Eagle's current board is better suited
to lead Eagle forward and merits your
continued support.
Vote the YELLOW Proxy or Voting
Instruction Form.
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VOTE YELLOW FOR EAGLE'S BOARD
Vote for Eagle's Board using ONLY Eagle's YELLOW Proxy or Voting Instruction Form.
Discard the dissidents' (blue) proxy or voting instruction form. (Voting on the dissidents' proxy or voting instruction form, even if it is against their nominees, will cancel your previous vote using Eagle's YELLOW Proxy or Voting Instruction Form.)
If you have already voted using the dissidents' proxy or voting instruction form, you can change your vote by simply voting using the YELLOW Proxy or Voting Instruction Form. It is the later-dated proxy or voting instruction form that will be counted.
For more information, Eagle Shareholders are encouraged to review in detail Eagle's letter to Shareholders and the Management Information Circular on its website at www.EagleEnergy.com or under Eagle's profile at www.sedar.com.
VOTE TODAY. Time is of the essence and Eagle Shareholders are urged to vote online by following the instructions found on the YELLOW Proxy or Voting Instruction Form to ensure votes are received in a timely manner.
Eagle's Board thanks you for your continued support.
QUESTIONS OR REQUESTS FOR ASSISTANCE WITH VOTING MAY BE DIRECTED TO
EAGLE'S PROXY SOLICITOR:
Laurel Hill Advisory Group
NORTH AMERICAN TOLL FREE:
1-877-452-7184
COLLECT CALLS OUTSIDE NORTH AMERICA:
1-416-304-0211
EMAIL: ASSISTANCE@LAURELHILL.COM
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About Eagle Energy Inc.
Eagle is an oil and gas corporation with shares listed for trading on the Toronto Stock Exchange under the symbol "EGL".
All material information about Eagle may be found on its website at www.EagleEnergy.com or under Eagle's issuer profile at www.sedar.com.
SOURCE Eagle Energy Inc.
