Sententia Capital Delivers Letter to Fellow Schmitt Shareholders
Schmitt Industries, Inc. (SMIT)
US:NASDAQ Investor Relations:
investor.schmitt-ind.com/investor-relations
Company Research
Source: PR Newswire
NEW YORK, Sept. 17, 2018 /PRNewswire/ -- Sententia Capital Management, LLC and its affiliates (collectively, "SENTENTIA"), the beneficial owners of approximately 8.1% of the outstanding shares of common stock of Schmitt Industries, Inc. ("Schmitt" or the "Company") (NASDAQ: SMIT) and one of the Company's largest shareholders, announced that it has delivered a letter to fellow Schmitt shareholders.Sententia believes Schmitt is comprised of good businesses, strong brands, an attractive long-term profile, and the ability to generate strong free cash flow. However, these features are hidden under leadership and a Board that Sententia believes continues to lack accountability, transparency and alignment, evident in their recent communications and proxy. Sententia has a concrete plan to maximize shareholder value and has formally nominated two highly qualified candidates for election to the Board at Schmitt's 2018 annual meeting.Please click the following link to access the full letter: SEN
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