WSI Industries, Inc. Responds to Shareholder Letter
26 Février 2018 - 2:18PM
WSI Industries, Inc. (Nasdaq: WSCI) confirmed that on February 16,
2018 the WSI Board of Directors received a letter from DPW
Holdings, Inc., a WSI shareholder. In that letter, DPW
Holdings requests that the WSI Board of Directors grant DPW
Holdings special exceptions from provisions of Minnesota law that
protect WSI shareholders from coercive and abusive takeover
tactics. DPW Holdings has stated its intention to conduct a
tender offer for control of 50% of WSI’s shares.
On February 26, 2018, the WSI Board of Directors responded to
DPW Holdings letter requesting information regarding DPW Holdings’
plans and proposals relating to WSI and its shareholders if DPW
Holdings were successful in its tender offer for control of 50% of
WSI’s shares. The WSI Board of Directors believes it cannot
properly evaluate whether granting the requested special exceptions
would be in the best interests of WSI shareholders without an
understanding of DPW Holdings’ plans as a 50% shareholder. To
view the WSI Board’s response letter, click here.
About WSI Industries, Inc.
WSI Industries, Inc. (Nasdaq: WSCI) is a leading contract
manufacturer that specializes in the machining of complex,
high-precision parts for a wide range of industries, including
automotive, avionics and aerospace, energy, recreational
powersports vehicles, small engines, bioscience and the defense
markets. For more information about WSI Industries, visit
www.wsiindustries.com.
For additional information:
Michael Pudil (President & CEO) or Paul D. Sheely (CFO)
(763) 295-9202
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