Leading Proxy Advisory Firm ISS Recommends Shareholders Vote “FOR” ONLY Tejon’s 10 Director Nominees
In its
Bulldog Investors (“Bulldog”) “has not presented a compelling case for change. As such, support for all management nominees is warranted on the management card.”- “Moreover, the dissident does not even provide a public view on which management nominees it hopes to unseat, and two of the dissident's three nominees are already overboarded. As such, the dissident has not presented a compelling case for change.”
Tejon issued the following statement:
We are pleased that ISS has recommended shareholders vote “FOR” all 10 of Tejon’s director nominees. ISS’s endorsement reinforces what we believe and what many of our long-term shareholders recognize: Tejon’s Board has the right mix of experience, discipline, and strategic vision to continue unlocking the full value of our unmatched land portfolio.
ISS’s support confirms that Tejon’s Board is best positioned to protect shareholder value and Bulldog’s nominees would pose unnecessary risk to the Company’s long-term success.
We urge all Tejon shareholders to follow ISS’s recommendation by voting “FOR” ONLY Tejon’s 10 nominees on the Company’s WHITE proxy card and withholding all votes from Bulldog’s nominees.
YOUR VOTE IS IMPORTANT, NO MATTER HOW MANY SHARES YOU OWN. YOU MAY VOTE BY THE INTERNET OR MAIL BY FOLLOWING THE INSTRUCTIONS ON THE WHITE PROXY CARD. WE URGE YOU TO VOTE TODAY! If you have any questions or require any assistance with voting your shares, please contact: Banks and Brokers: (212) 390-0450 All Others: (866) 796-7184 Email: TRC@dfking.com |
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1 Permission to use quotations was neither sought nor obtained.
About
Forward Looking Statements
This communication contains forward-looking statements about future events and circumstances. Generally speaking, any statement not based upon historical fact is a forward-looking statement. In particular, statements regarding Tejon’s plans, strategies, prospects and expectations regarding its business and industry are forward-looking statements. They reflect Tejon’s expectations, are not guarantees of performance and speak only as of the date hereof. Except as required by law, Tejon does not undertake to update such forward-looking statements. You should not rely unduly on forward-looking statements. Tejon’s business results are subject to a variety of risks, including business conditions and the general economy, future commodity prices and yields, market forces, the ability to obtain various governmental entitlements and permits, interest rates and other risks inherent in real estate and agriculture businesses. For further information on factors that could affect Tejon’s business results, refer to Tejon’s Annual Report on Form 10-K for the fiscal year ended
Additional Information and Where to Find It
Tejon has filed a definitive proxy statement on Schedule 14A and WHITE proxy card with the
SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY TEJON AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC AS THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION. Shareholders may obtain copies of these documents and other documents Tejon files with the
Participants
Tejon, its directors, certain of its executive officers, and other members of management and employees may be deemed to be participants in the solicitation of proxies with respect to a solicitation by Tejon. The identity of individual participants and information about their direct and indirect interests in the solicitation is available in Tejon’s definitive proxy statement filed with the
Contacts:
Investors
661-663-4212
nortiz@tejonranch.com
Media
(212) 355-4449
Source: Tejon Ranch Co