Arosa Investment Management LLC, the beneficial owner of approximately 9.9% of the shares of Datatrak International, Inc. (OTC:DTRK) that has initiated a proxy contest to elect three of five directors at Datatrak’s Annual Meeting of Shareholders, calls on Datatrak’s management to honor the shareholder vote in favor of Arosa’s director candidates and cease what Arosa believes are obvious delay, intimidation and entrenchment activities.
Arosa believes that Datatrak abruptly delayed the Annual Meeting one day before the meeting for the sole reason that Arosa’s director candidates were winning the vote. Based on information provided to both Arosa and Datatrak by the proxy tabulator, Arosa was winning the vote and its lead was only growing as the Annual Meeting approached. Arosa calls on Datatrak to immediately honor the vote of shareholders in favor of Arosa’s director candidates.
Arosa believes that Datatrak’s management has done everything it can to avoid allowing its own shareholders the fundamental right to elect the company’s directors, including by:
• repeatedly threatening Arosa with its anti-shareholder poison pill,
• threatening Datatrak employees not to vote for Arosa’s director candidates because management will be able to see their votes,
• suing Arosa in an effort to intimidate Arosa and mislead shareholders, and
• abruptly delaying its scheduled Annual Meeting at the last minute to avoid having to recognize the results of the shareholder vote in favor of Arosa’s director candidates.
Arosa will not be intimidated by what it sees as shameless and amateurish scare tactics and entrenchment activities and will fight Datatrak’s management in whatever forum necessary to prevail. Arosa believes that Datatrak’s management and Chairman/CEO Larry Birch are desperately attempting to avoid the consequences of a shareholder vote in favor of Arosa’s director candidates.
Arosa would like to thank the many Datatrak shareholders who have expressed support for our efforts and cast their vote in favor of our director candidates. Arosa asks for your vote in any new shareholder vote that may become necessary. Arosa asks that shareholders carefully review our proxy materials and press releases, which contain information about our director nominees and our plans for the company. Arosa also asks shareholders to take a close look at what we believe are Datatrak management’s deceptive and misleading communications to shareholders.
If you own shares of Datatrak, we would like to hear from you. We urge you to call us so that we can provide you with additional information and our proxy materials. Please contact Alliance Advisors, Arosa’s proxy advisor, toll-free at 855-737-3183.
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