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Access Capital Responds to Tuckamore
Instruct Your Financial Advisors to Vote NO to the Tuckamore MBO Go to www.voteNO...
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[{"type":"text","content":"\n\n\nInstruct Your Financial Advisors to Vote NO to the Tuckamore MBO \nGo to www.voteNOtuckamoreMBO.com to learn more\n\n\nTORONTO, June 26, 2014 /CNW/ - Access Holdings Management Company LLC (\"Access Holdings\" or \"we\") provided a response to Tuckamore Capital Management Inc. (the \"Company\" or \"Tuckamore\") (TSX: TX) in relation to the proposed management-led buyout (\"MBO\") of Tuckamore and sponsored by Birch Hill Equity Partners:\n\n\"With shareholders independently lining up to oppose the MBO we are disappointed, but not surprised, that Tuckamore's board is trying to divert attention from their failings.  What matters is the future value that shareholders will not realize from the business if the MBO proceeds.\n\nShareholders holding 28.4% of the outstanding shares – the vast majority held by sophisticated institutional shareholders not associated with Access – have independently concluded that Tuckamore's process failed to protect the interests of non-management shareholders and that the MBO severely undervalues the Company. These shareholders have publicly announced their intention to vote NO to the MBO while others have contacted us expressing the same sentiment. \n\nWe leave it to fellow shareholders and their good judgment to determine if this board has worked to maximize value for all shareholders.\"\n\nTuckamore's board has gone to great lengths to misconstrue previous interactions with Access in a transparent attempt to confuse shareholders. Access Holdings has always pursued and advocated with the Tuckamore board and its independent advisors a \"stay public\" outcome where all shareholders would benefit from future value creation at Tuckamore. Any type of go private scenario would be illogical, as it would impair future value for all shareholders. Only management will benefit from future value creation under the MBO. \n\nAccess Capital has posted to its website a February 20, 2013 letter to Tuckamore and other associated materials and correspondence with Newport Private Wealth Inc.  Tuckamore shareholders are invited to view this letter and other correspondence in its entirety at www.voteNOtuckamoreMBO.com. While on the website, please also review the other important information about the MBO and Tuckamore's Board and then vote NO to the Tuckamore MBO using the YELLOW prox...