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Institutional Shareholder Services (ISS) Recommends Solitron Shareholders Vote FOR Eriksen Capital's Highly Qualified Nominees
Institutional Shareholder Services (ISS) Recommends Solitron Shareholders Vote FOR Eriksen Capital's Highly Qualified Nominees.
About this update from Solitron Devices, Inc.
[{"type":"text","content":"\n\n\n\nInstitutional Shareholder Services (ISS) Recommends Solitron Shareholders Vote FOR Eriksen Capital's Highly Qualified Nominees\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nInstitutional Shareholder Services (ISS) Recommends Solitron Shareholders Vote FOR Eriksen Capital's Highly Qualified Nominees\nISS Recommends Voting Eriksen Capital's GOLD Proxy Card\nRecommends Voting FOR both Director Nominees and All Shareholder Proposals\nStates Eriksen Capital Has Made a Compelling Case for Change at the Board Level\nPR Newswire\nLYNDEN, Wash., July 23, 2015\n\n\n\nLYNDEN, Wash., July 23, 2015 /PRNewswire/ -- Eriksen Capital Management, one of the largest shareholders of Solitron Devices, Inc. (OTCQB: SODI), today announced that Institutional Shareholder Services (ISS), a leading independent proxy voting advisory firm, has recommended that Solitron shareholders vote on Eriksen Capital's GOLD proxy card to elect both of Eriksen Capital's nominees, Tim Eriksen and David Pointer, as well as FOR all of Eriksen Capital's proposals, including the Proposal to declassify the Board, at Solitron's upcoming annual meeting on August 4, 2015.    \n\nEriksen Capital urges all Solitron shareholders to follow ISS' recommendations for change on the Solitron Board by voting the GOLD proxy card TODAY.\n\nIn reaching its conclusion, ISS performed a detailed analysis of each side's positions in the election contest and, in particular, carefully considered the Company's poor corporate governance practices and poor capital allocation decisions, as well as the experience and qualifications of Eriksen Capital's two nominees in relation to the Company's. ISS concluded that:\n\n\"In light of [Eriksen Capital's] compelling case for change at the board level, and the characteristics of the two dissident nominees as compared to the company's nominees, support for dissident nominees Eriksen and Pointer is warranted.\"  \n\nExcerpts from ISS' analysis and recommendation:\n\n\"Support for ... Tim Eriksen and David Pointer is warranted ... the company's poor corporate governanc...