RE:As per Section 5.1(a)(iii) of the Management Agreement As described in our press release dated March 3, 2016, the Concerned Shareholder Group believes the recently announced monetization process faces a number of significant challenges which will make it difficult to achieve an acceptable outcome for shareholders when compared to the wind-up alternative put forward by the Concerned Shareholder Group. At this time, the members of the Concerned Shareholder Group wish to reiterate that they will not support any transaction which enriches the Manager at the expense of shareholder value unless the transaction results in shareholders receiving net proceeds that approximate the current book value per share.
In light of the upcoming annual and special meeting of shareholders requisitioned by the Concerned Shareholder Group, we have given notice to the Special Committee that we will hold its members responsible for any wasteful endeavors or transactions, including the payment of any unnecessary fee to the Manager, as well as any failure to act in the best interests of the Company.
The Concerned Shareholder Group has retained Kingsdale Shareholder Services as its strategic advisor and proxy solicitor to assist with its upcoming solicitation of shareholders in connection with the Annual and Special Meeting of Trez Capital to be held on May 30, 2016.