Rocky Mountain Chocolate Factory, Inc. · NASDAQ:RMCF
Rocky Mountain Chocolate Factory — Proxy Contest (September 2021)
10 slides from Rocky Mountain Chocolate Factory's proxy contest presentation, Sep 21, 2021
Slide 1: Proxy Contest to Change Leadership at Rocky Mountain Chocolate Factory, Inc.
A B V al u e P a r t n e r s , L P & A B V a l u e Ma n a g e m e n t LL C Bradley Radoff Pr o x y C o n te s t to C h a n g e Le a d e r s h i p a t R o c k y M o un t a i n C h o c o la te F a c t o r y , I n c . T H E C O N C E R N E D SH AR E H O L D E RS O F R e bu tt a l S lid e s f or R M C F
Slide 2: Disclaimer
The views expressed in this presentation (this “Presentation”) represent the opinions of AB Value Partners, LP and/or certain of its affiliates (collectively, “AB Value”) and the other participants in this solicitation (collectively, the “Concerned Shareholders of Rocky Mountain”) that hold shares i
Slide 3: It is Clear the Board Does Not Have a Strong Strategy in Place
S h a r e ho l d e r C a l l t o A c t i on Executive Summary Need for Immediate Change Shareholders’ Plan Nominees Best Suited to Effect Change Appendix 3 It is Clear the Board Does Not Have a Strong Strategy in Place to Make Positive Change at RMCF • There is no one on the Board with the necessary
Slide 4: Brand refreshment and unanswered questions on RMCF's plan
S h a r e ho l d e r C a l l t o A c t i on Appendix 4 • RM C F d e p i c t s on e o f I mm a c u l a t e C o n f ec t i o ns ' s ( C anad i a n F r an c h i s ee ) retail stores as part of their brand refreshment. • I mm a c u l a t e C on f ec t i on s s t o r e s an d branding efforts are separat
Slide 5: RMCF's Plan is Severely Lacking in Details and Substance
S h a r e ho l d e r C a l l t o A c t i on Appendix Executive Summary Need for Immediate Change Shareholders’ Plan Nominees Best Suited to Effect Change RMCF’s Plan is Severely Lacking in Details and Substance • What learnings is RMCF referring to regarding their strategic relationship with Edible
Slide 6: Expanding the Franchisee Network Would be a Boon for the Company – But How?
S h a r e ho l d e r C a l l t o A c t i on Appendix Executive Summary Need for Immediate Change Shareholders’ Plan Nominees Best Suited to Effect Change Expanding the Franchisee Network Would be a Boon for the Company – But How? 0 50 100 150 200 250 F Y 1 5 F Y 1 6 F Y 1 7 F Y 1 8 F Y 1 9 F Y 2 0 F
Slide 7: RMCF's Plan is Severely Lacking in Details and Substance (contd.)
S h a r e ho l d e r C a l l t o A c t i on Appendix Executive Summary Need for Immediate Change Shareholders’ Plan Nominees Best Suited to Effect Change RMCF’s Plan is Severely Lacking in Details and Substance (contd.) 7 • R M CF ' s f a c t o r y i s c u rr e n t l y on l y operating at 36% capaci
Slide 8: RMCF Continues to Ignore its Long History of Share Price Underperformance
S h a r e ho l d e r C a l l t o A c t i on Appendix Executive Summary Need for Immediate Change Shareholders’ Plan Nominees Best Suited to Effect Change RMCF Continues to Ignore its Long History of Share Price Underperformance 4QFY21 (ended 28 Feb 2021) – YoY comparison is with a Pre - Covid Period
Slide 9: Claims of Enhanced Governance Ignore Personal Gains and Deliberate Acts of Entrenchment
S h a r e ho l d e r C a l l t o A c t i on Appendix Executive Summary Need for Immediate Change Shareholders’ Plan Nominees Best Suited to Effect Change Claims of Enhanced Governance Ignore Personal Gains and Deliberate Acts of Entrenchment • Board refreshment has occurred primarily due to sharehol
Slide 10: The Incumbent Board Continues to Misdiagnose the Ecommerce Problem
S h a r e ho l d e r C a l l t o A c t i on Appendix Executive Summary Need for Immediate Change Shareholders’ Plan Nominees Best Suited to Effect Change The Incumbent Board Continues to Misdiagnose the Ecommerce Problem ‘ E nh a n c i n g E - C o m m e r c e and D i r e c t - t o - C on s u me r O
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