NEW YORK–(BUSINESS WIRE)–Cruiser Capital Master Fund LP and its affiliates (“Cruiser Capital” or “Cruiser”), one of the top ten shareholders of American Vanguard Corporation (NYSE: AVD) (“American Vanguard”, “AVD” or the “Company”), owning approximately 2.5% of AVD’s outstanding shares, today issued a shareholder presentation highlighting the urgent need to elevate American Vanguard after a decade of underperformance and poor corporate governance. ‘business. Cruiser has nominated three directors with proven operating experience to be elected to AVD’s board of directors at the June 1, 2022 annual meeting of shareholders. The presentation explaining why shareholders should vote on the BLUE proxy card to support highly qualified Cruiser Capital candidates can be viewed here.
Cruiser Capital said:Real change is needed to address American Vanguard’s long-term underperformance, and we believe it starts in the boardroom. Unfortunately, we believe that the current long-serving Board of Directors has adopted an ingrained mindset and outdated corporate governance policies that have been to the detriment of the Corporation’s stakeholders. Our three highly qualified candidates, Mark Bassett, Pat Gottschalk and Keith Rosenbloom, will bring the operational acumen and independent perspectives needed to drive better margins, improve shareholder value and increase transparency at AVD. We urge shareholders to vote on the BLUE card to raise AVD today.
About Cruiser Capital Advisors
Cruiser Capital Advisors, LLC is an investment management firm that focuses its investments in companies that it believes are trading at market values significantly different from their intrinsic value. Cruiser often uses a constructivist approach to working with management teams to help drive shareholder value. Cruiser can be contacted at [email protected]
Cruiser has nominated three individuals as nominees to the board of directors of American Vanguard Corporation, a Delaware corporation (the “Company”), and intends to solicit votes for the election of these individuals as members of the Board of Directors of the Company. The individuals who have been nominated are Keith M. Rosenbloom, Patrick E. Gottschalk and Mark R. Bassett (the “Nominees”). Cruiser Capital Master Fund LP is sending a definitive proxy statement, BLUE proxy card and related proxy materials to shareholders of the Company seeking their support for nominees at the Company’s 2022 313 Annual Meeting of Shareholders. Shareholders are urged to read the definitive proxy statement and the BLUE proxy card as they contain important information about the nominees, the company and related matters. Shareholders may obtain a free copy of the definitive proxy statement and BLUE proxy card and other documents filed with the Securities and Exchange Commission (“SEC”) by Cruiser Capital and its affiliates (the “Cruiser Parties”). Capital”) on the SEC’s website at www.sec.gov. The definitive proxy statement and other related SEC documents filed with the SEC by the Cruiser Capital Parties may also be obtained free of charge from the Cruiser Capital Parties upon request.
Participants in the solicitation
The following persons may be considered participants in the planned solicitation of proxies from shareholders of the Company in favor of the Nominees (the “Participants”): Cruiser Capital Advisors, LLC, Keith M. Rosenbloom, Cruiser Capital Master Fund LP, Metamorphosis VI LLC, Patrick E. Gottschalk and Mark R. Bassett who hold some or all of their shares through accounts managed by Cruiser Capital Advisors, LLC. Participants may have interests in the solicitation, in particular because of the holding of ordinary shares of the Company. Information about Participants and their interests can be found in the definitive proxy statement that the participants filed with the SEC on May 9, 2022, which is incorporated herein by reference.
Caution Regarding Forward-Looking Statements
These documents may contain forward-looking statements. All statements contained herein that are not clearly historical in nature or necessarily dependent on future events are forward-looking, and the words “anticipate”, “believe”, “expect”, “potential”, ” opportunity”, “estimate”, “plan” and similar expressions are generally intended to identify forward-looking statements. Projected results and statements contained in these documents that are not historical facts are based on current expectations and speak only as of the date of these documents, and involve risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such projected results and statements. Assumptions relating to the foregoing involve judgments regarding, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict with precision and many of which are beyond the control of the Cruiser Capital Parties. . Although the Cruiser Capital parties believe that the assumptions underlying the projected results or forward-looking statements included in these materials are reasonable as of the date of these materials, each of the assumptions may be incorrect and, accordingly, there can be no assurance that the projected results any forward-looking results or statements contained herein will prove to be accurate. In light of the material uncertainties inherent in projected results and the forward-looking statements included herein, the inclusion of this information should not be taken as a representation of future results or that the strategic objectives and initiatives expressed or implied by such projected results and forward-looking statements will be achieved. The Cruiser Capital parties do not undertake and specifically disclaim any obligation to disclose the results of any revisions that may be made to projected results or forward-looking statements herein to reflect events or circumstances after the date of such projected results or statements or to reflect the occurrence of anticipated or unforeseen events.