Here’s a new one on us: ShopHQ’s dissident shareholder group is holding a meet-and-greet for the network’s employees and vendors. And folks, the Clinton Group wants your votes!
In its latest missive the Clinton Group, which is seeking to oust ShopHQ’s current management, is making it very easy for shareholders to vote for its slate of board nominees instead of Keith Stewart’s crew.
“Meet the Clinton Group team at the Minneapolis Marriott Southwest in Minnetonka, Minnesota, on Tuesday, June 17 from 5 to 7 pm at Stacy’s Grill, where they can fill out a ballot or drop one off,” the feisty shareholders said.
In a press release, the Clinton Group also called for ShopHQ “to assure its vendors and employees that they can exercise their voting rights at the Company’s upcoming June 18 annual meeting without fear of reprisal.”
That was followed by these words from the head of the dissident shareholders.
“We are disturbed that we have heard from multiple employees and vendors that they are afraid to vote their shares for us because they fear management will retaliate against them,” Gregory Taxin, President of Clinton Group, said in a statement. “We believe every shareholder is entitled to vote without coercion and we welcome the participation of the Company’s employees and vendors in this process.”
Clinton Group’s nominees have committed that they will not treat any employee or vendor who votes against the nominees differently than employees and vendors who side with the Clinton Group, in the event the Clinton Group nominees are elected, according to the press release.
“The Company’s management and Board should assure the Company’s valuable employees and vendors that they may freely exercise their voting rights without fear of retaliation,” Taxin said. “In my opinion, anything less is an abuse of corporate position and inconsistent with Mr. Stewart’s June 12 email to employees.”
Employees and vendors were told that they can vote shares held at brokerage firms online and anonymously in favor of the Clinton Group nominees by using the “control number” on the GOLD proxy card. Employees and vendors with “registered” shares can scan and email those ballots to Clinton Group (VVTV@okapipartners.com).
Alternatively, employees and vendors can come to the company’s annual meeting to vote (on June 18 at 9 AM at headquarters). Or they can come to the Stacy’s Grill. We hear Thom Beers is buying!