Regal Partners Ltd V.RPL

FrontFour's Proposal Now On SEDAR

[hakodate]

FrontFour's proposal is now on www.sedar.com under Renegade and titled "Information Circular" dated December 18th. Below is the gist of their action plan. Happy arguing!

Action Plan
If elected as directors of the Company, following the Special Meeting our nominees intend to take the
following actions:
•  Hire a highly qualified CEO to lead Renegade’s operating team.  
•  Develop  a  new  capital  budget,  which  will  prioritize  free  cash  flow  to  accelerate  the
repayment of debt.   
•  Evaluate  the  dividend  in  order  to  repair  the  balance  sheet,  which  has  been  poorly
managed by the current Board, while seeking to ensure that yield-oriented investors do
not become forced sellers of the shares.  
•  Focus  on  the  reduction  of  SG&A  and  operating  costs,  which  the  current  Board  has
allowed to become elevated versus Renegade’s peers.
•  Seek  to  execute  a  reverse  stock  split,  subject  to  Shareholder  approval,  to  reduce  the
relative cost of trading for all investors.
•  Seek  to  migrate  Renegade’s  listing  from  the  Venture  Exchange  to  the  Toronto  Stock
Exchange to improve visibility and governance standards.
•  Put the company on a dual strategic path whereby management works to “fix and grow”
as well as “fix and sell” the business.  
•  Implement best governance practices and re-align the interests of the Board with those of
Shareholders.