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LONDON, UK / ACCESSWIRE / February 13, 2018 / Active-Investors.com has just released a free research report on Alaska Communications Systems Group, Inc. (NASDAQ: ALSK). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ALSK as the Company's latest news hit the wire. On February 09, 2018, the Company announced that it has received a purported notice of nomination from Karen Singer's TAR Holdings LLC about its intention to nominate three director candidates to the Company's six-member Board of Directors at Alaska Communications' 2018 Annual Meeting of Stockholders. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Alaska Communications Systems Group most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=ALSK
TAR Holdings is looking to nominate Steven G. Singer (brother-in-law of Karen Singer), Wayne Barr, Jr., and Patrick F. Doyle to Alaska Communications' Board of Directors.
Alaska Communications to Review TAR Holdings' Nomination Notice
Alaska Communications, in consultation with its advisors, will review TAR Holdings' purported nomination notice, to assess whether it complies with the Company's Amended and Restated Bylaws. The Company's Board will present its formal recommendation regarding director nominations in Alaska Communications' definitive proxy statement to be filed with the US Securities and Exchange Commission (SEC). Morgan, Lewis & Bockius LLP is acting as legal advisor to the Company.
On February 01, 2018, Alaska Communications' Board approved the extension of the deadline for stockholders to nominate directors and to propose other business to be considered at the Company's 2018 Annual Meeting
TAR Holdings Reported Stake in Alaska Communications
Reports suggests that in December 2017, Tar Holdings reported a 5% stake in Alaska Communications, owning 2,639,984 shares of Common Stock of the Company. Tar Holdings filed Schedule 13D/A with US SEC, wherein it mentioned that Tar Holdings had approached Alaska Communications' management to urge a sale of the business or some assets in order to maximize value for the Company's shareholders. TAR Holdings was also considering whether to seek representation on the Alaska Communications' Board of Directors.
Alaska Communications Comments on Schedule 13D Filing
In response to the Schedule 13D/A filed by TAR Holdings, Alaska Communications stated in a press conference that the Company welcomes the opinion of TAR Holdings and its suggestion to explore the sale of Alaska Communications. The Company's Board and management team are not opposed to any transaction that creates or unlocks value for all its stockholders. However, Alaska Communications will explore that such a transaction be appropriately managed and undertaken in an orderly manner. Any process that creates uncertainty for the Company's customers and employees will only detract from its ongoing initiatives to enhance and unlock stockholder value harming the future prospects of the Company and, ultimately, could adversely affect its ability to maximize value for all the stockholders.
About Alaska Communications Systems Group, Inc.
Founded in 1999, Alaska Communications is a leading provider of advanced broadband and managed services solutions for businesses and consumers in Alaska. The Company operates a highly reliable, advanced statewide data network with the latest technology, and the most diverse undersea fiber optic system connecting Alaska to the contiguous United States.
Stock Performance Snapshot
February 12, 2018 - At Monday's closing bell, Alaska Communications Systems Group's stock was marginally up 0.46%, ending the trading session at $2.19.
Volume traded for the day: 51.92 thousand shares.
Stock performance in the previous three-month period - up 1.15%; and past twelve-month period - up 33.54%
After yesterday's close, Alaska Communications Systems Group's market cap was at $118.54 million.
The stock is part of the Technology sector, categorized under the Telecom Services - Domestic industry. This sector was up 1.3% at the end of the session.
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