FrontFour Delivers Letter To Fisher Communications Stockholders
WE ARE CONCERNED WITH THE COMPANY'S CURRENT REACTIONARY PATH
The Board has been reactionary rather than proactive. The Company has dismissed multiple acquisition offers. In April 2008 an offer was made to purchase the entire Company for $43 to $45 per share, which represented a 35% to 45% premium to market at the time. In May 2008, the Company announced its intention to sell Fisher Plaza. In June 2008, stockholders found out about the April offer not from the Company, but from another stockholder through a filing with the SEC.
Only after FrontFour announced its intention to run a proxy contest did the Company retain a financial advisor to explore alternatives for maximizing the value of Fisher Plaza. Why not announce a mandate to maximize the value of all assets? Maximizing the value of a single asset in isolation may not be the best means to maximize the value of all assets of the Company. Is this Board just trying to placate stockholders? It is imperative to undertake a full review of all possible strategic options available for the Company before pursuing such a real estate transaction in isolation.
If elected, our nominees will seek to have the Board carry out an operational and strategic analysis of all alternatives to maximize stockholder value, including ways to monetize Fisher Plaza. Also, our nominees will demand that the current financial advisor pursue a robust analysis of the entire Company so that the Board is well informed and evaluates all strategic options to maximize stockholder value.FRONTFOUR'S NOMINEES ARE HIGHLY QUALIFIED AND EXPERIENCED AND HAVE A PLAN TO ENHANCE VALUE AT FISHER FrontFour has nominated the following four highly qualified director candidates: John F. Powers, Joseph J. Troy, Matthew Goldfarb and Stephen Loukas. Collectively, our nominees have a wide range of expertise across multiple industries at both the operating and Board level. Throughout their respective careers, our nominees have demonstrated an ability to create value for their respective stakeholders in various complex and challenging scenarios. THE TIME FOR MEANINGFUL CHANGE AT FISHER IS NOW! VOTE TODAY TO ENSURE THE RESPONSIBLE STEWARDSHIP OF YOUR INVESTMENT Our Interests are Directly Aligned with ALL Stockholders VOTE FOR CHANGE AT FISHER NOW – PLEASE SIGN, DATE AND MAIL THE ENCLOSED GREEN PROXY CARD TODAY! If you have any questions, require assistance with submitting you GREEN proxy card, or need additional copies of the proxy materials, please contact: D.F. King & Co., Inc. 48 Wall Street New York, NY 10005 Banks & Brokerage firms please call: 212-269-5550 Stockholders call toll-free: 800-659-6590
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