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HSB Capital Partners Sends Open Letter to Independent Directors of Tix Corporation
HSB Capital Partners Sends Open Letter to Independent Directors of Tix Corporation.
About this update from Tix Corporation
[{"type":"text","content":"\n\n\n\nHSB Capital Partners Sends Open Letter to Independent Directors of Tix Corporation\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\nHSB Capital Partners Sends Open Letter to Independent Directors of Tix Corporation\nBelieves Management and the Board, Led by CEO and Chairman Mitch Francis, Are Not Aligned With Stockholders\nDetails Tix's Severe Underperformance While Management Is Paid Generously\nCalls for a Reconstituted Board to Bring Greater Accountability to Tix\nPR Newswire\nIRVINE, Calif., Feb. 6, 2019\n\n\n\nIRVINE, Calif., Feb. 6, 2019 /PRNewswire/ -- HSB Capital Partners, L.P. (\"HSB Capital Partners\"), who beneficially owns, together with its affiliates, approximately 4.85% of the outstanding common stock of Tix Corporation (\"Tix\") (OTCQX: TIXC), today issued a public letter to the independent members of the Board of Directors of Tix (the \"Board\"). In the letter, HSB Capital Partners outlines what it sees as the current Board's lack of accountability and failure to act upon opportunities to create long term value.  HSB calls for the Board to be refreshed with new, independent voices and to meaningfully engage with HSB to identify new directors. \nThe full text of the letter is below: \nTix Corporation   Attn: Independent Members of the Board of Directors 12711 Ventura Blvd. Suite 340 Studio City, CA 91604\nFebruary 6, 2019\nDear Independent Members of the Board:\nHSB Capital Partners, L.P. and its affiliates (collectively, \"we\" or \"HSB Capital Partners\") are long term shareholders, beneficially owning approximately 4.85% of the outstanding common stock of Tix Corporation (\"Tix\" or the \"Company\"). As a firm, we invested in Tix, beginning in October 2017, because we believed the Company was deeply undervalued with opportunities readily within the control of the Board of Directors (the \"Board\") to substantially increase shareholder value.  \nFor the past 18 months, we have attempted to communicate constructively with the Company regarding these opportunities.  Unfortunately, Tix's management and Board, led by CEO...