Sententia Announces ISS Recommendation that Schmitt Shareholders "WITHOLD" Votes from Legacy Director and Vote "Against" Say on Pay Proposal
Schmitt Industries, Inc. (SMIT)
US:NASDAQ Investor Relations:
investor.schmitt-ind.com/investor-relations
Company Research
Source: PR Newswire
NEW YORK, Oct. 1, 2018 /PRNewswire/ -- Sententia Capital Management, LLC and its affiliates (collectively, "SENTENTIA" or "we"), the beneficial owners of approximately 8.1% of the outstanding shares of common stock of Schmitt Industries, Inc. (NASDAQ: SMIT) ("Schmitt" or the "Company"), today announced that, in a report issued on September 28, 2018, Institutional Shareholder Services ("ISS"), one of the world's leading independent proxy advisor firm, recommended that Schmitt shareholders "WITHOLD" votes from legacy director nominee Maynard E. Brown and vote "AGAINST" approval of Schmitt's say-on-pay proposal at the Company's annual meeting scheduled to be held on Friday, October 12, 2018, in Portland, Oregon. Michael R. Zapata, founding manager for Sententia, commented, "We are pleased to see further support for our concerns with Schmitt. We urge fellow shareholders to join us in voting for needed accountability and independence in Schmitt's boardroom. Together, with Andrew P. Hines,
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