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5 Questions Newport Private Wealth Clients Should Ask Their Financial Advisors about the Tuckamore Capital Management Buyout
Instruct Your Financial Advisors to Vote NO to the Tuckamore MBO Go to www.vo...
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[{"type":"text","content":"\n\n\n\n\n\n\nInstruct Your Financial Advisors to Vote NO to the Tuckamore MBO\n\n\nGo to www.voteNOtuckamoreMBO.com to learn more\n\n\n\nTORONTO, June 27, 2014 /CNW/ - Access Holdings Management Company LLC\n (\"Access Holdings\" or \"we\") urges clients of Newport Private Wealth\n Inc. (\"Newport\") which own common shares of Tuckamore Capital\n Management Inc. (the \"Company\" or \"Tuckamore\") (TSX: TX) to instruct\n their Newport financial advisor to vote NO to the Tuckamore MBO at a Special Meeting of Shareholders to be held on July 15th, 2014.\n\n\nFive Questions You Should Ask Your Financial Advisor at Newport Private\n Wealth\n\n\nNewport has control or direction (but not beneficial ownership) over\n 31.4% or 25,202,855 Tuckamore Shares. This includes 3,361,893 Tuckamore\n Shares owned by Company directors and officers. Two of Tuckamore's\n directors, Chairman Douglas Brown and Mark Kinney, are also Partners in\n Newport.  Newport agreed to recommend in favour of the proposed\n management-led buyout (MBO) of Tuckamore sponsored by Birch Hill Equity\n Partners.  Other shareholders, including several large institutional\n shareholders, have independently and publicly announced they will not\n support the MBO because it does not offer fair value.\n\n\nHere are five questions every Tuckamore shareholder who is also a\n Newport client should ask their financial advisor regarding the\n proposed Tuckamore MBO.\n\n\n\nWhen it agreed to recommend in favour of the MBO, was the Newport\n investment committee aware that: (a) Tuckamore did not conduct a\n competitive sales process or price check; (b) the Tuckamore Board did\n not have the benefit of advice from independent legal or financial\n advisors; (c) the terms of the MBO included highly unusual and\n preclusive deal protection measures and (d) the transaction was not\n reviewed by a special committee of independent directors?\n\n\n\n\nWhat are the terms and conditions upon which Newport agreed to recommend\n in favour of the MBO and what are the circumstances under which Newport\n can retract its recommendation?\n\n\n\n\nWhat did the Newport directors on Tuckamore's Board do to earn director\n fees that are greater than directors earn at some of the largest\n publicly-traded companies in North America?\n\n\n\n\nIn light of their relationships with both Tuckamore and...