Details Prolonged Period of Shareholder Value Destruction Caused by Poor Performance, Poor Operating Execution and Poor Capital Allocation
Believes CEO and Incumbent Board Are Ineffective, Over Tenured and Entrenched and Cannot be Trusted to Oversee Much-Needed Change Following Years of Empty Promises
Barington’s Nominees Bring the Leadership Experience and Sector Expertise the Board Urgently Needs to Unlock Matthews’ Embedded Value
Urges Shareholders to Vote the GOLD Proxy Card “FOR” the Election of ALL of Barington Capital’s Nominees
NEW YORK, Jan. 23, 2025 /PRNewswire/ — Barington Capital Group, L.P. (“Barington Capital”), a fundamental, value-oriented activist investor that, together with the other participants in its solicitation (collectively “Barington” or “we”), beneficially owns approximately 1.9% of the outstanding shares of Matthews International Corporation (NASDAQ: MATW) (“Matthews” or the “Company”), today announced that it has released a comprehensive presentation outlining the path to maximizing value at Matthews following a prolonged period of shareholder value destruction overseen by the Company’s long-tenured Board of Directors (the “Board”) and Chief Executive Officer. The presentation also highlights why Barington’s director nominees are the change agents urgently needed on the Board to ensure the Board is acting in the best interest of shareholders.
Barington encourages Matthews’ shareholders to review the presentation so they can make an informed decision at the Company’s 2025 Annual Meeting of Shareholders regarding the future of their investment.
Barington’s presentation can be found at https://barington.com/matthews.
Key highlights of the presentation include:
SHOW THE BOARD THAT YOU WILL NO LONGER TOLERATE THE STATUS QUO AND VOTE THE GOLD PROXY CARD TODAY TO HELP MAXIMIZE VALUE AT MATTHEWS
ABOUT BARINGTON CAPITAL GROUP, L.P.
Barington Capital Group, L.P. is a fundamental, value-oriented activist investment firm established by James Mitarotonda in January 2000. Barington invests in undervalued publicly traded companies that Barington believes can appreciate significantly in value when substantive improvements are made to their operations, corporate strategy, capital allocation and corporate governance. Barington’s investment team, advisors and network of industry experts draw upon their extensive strategic, operating and boardroom experience to assist companies in designing and implementing initiatives to improve long-term shareholder value.
Media Contact:
Jonathan Gasthalter/Amanda Shpiner
Gasthalter & Co.
212-257-4170
Important Information and Participants in the Solicitation
Barington has filed a definitive proxy statement and associated GOLD proxy card with the Securities and Exchange Commission (“SEC”) to be used to solicit votes for the election of its slate of highly-qualified director nominees at the upcoming annual meeting of stockholders of the Company. Details regarding the Barington nominees and the participants in its solicitation are included in its proxy statement and Barington strongly advises all shareholders of the company to read the proxy statement and other proxy materials as they contain important information.
The participants in Barington’s proxy solicitation are Barington, Barington Companies Investors, LLC, Barington Capital Group, L.P., LNA Capital Corp., James Mitarotonda, 1 NBL EH, LLC, Joseph Gromek, Ana B. Amicarella and Chan W. Galbato.
If you have any questions, require assistance in voting your GOLD universal proxy card,
or need additional copies of Barington’s proxy materials,
please contact:
Okapi Partners
1212 Avenue of the Americas, 17th Floor
New York, NY 10036
Banks and Brokerage Firms, Please Call: (212) 297-0720
Shareholders and All Others Call Toll-Free: (877) 285-5990
E-mail: info@okapipartners.com
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SOURCE Barington Capital Group, L.P.
