SANTA BARBARA, Calif., May 17, 2012 /PRNewswire/ --James A. McIntyre, the largest individual shareholder of Signature Group Holdings, Inc. (the "Company") (OTCQX: SGGH), has notified the Company of his nomination of five individuals to the Board of Directors for the Company's annual meeting, scheduled for July 24, 2012. The notice was delivered to the Company on May 10, 2012, a copy of which was attached to McIntyre's Securities and Exchange Commission 13D/A filing on May 15, 2012.
In announcing his reasons for proposing the five nominees, McIntyre said, "The Company's Board and its senior management have failed shareholders by deviating from the original business plan, yet continue to enrich themselves with rich compensation packages."
In his letter to the Company, McIntyre outlined the experience and qualifications of his proposed nominees. Nominees include Joyce White, Robert Peiser, Barton Gurewitz, J. Hunter Brown, and McIntyre. A list of their qualifications can be currently found in McIntyre's 13D/A filing located at www.sec.gov.
McIntyre concluded, "As the largest shareholder, I can no longer sit idly by. The Company's stock has lost over 50% in value and its tangible book value has shrunk by over $40 million.
Contact | James R. Cummins, Esq., Counsel to James A. McIntyre |
513.621.0267 jcummins@wsbclaw.com |
SOURCEJames A. McIntyre