Egan-Jones Recommends Shareholders Vote “WITHHOLD” on Matthews’ Nominees Terry L. Dunlap, Alvaro Garcia-Tunon and J. Michael Nauman and “AGAINST” All Matthews’ Other Proposals
Barington Capital Urges Shareholders to Follow Egan-Jones’ Recommendation and Vote the GOLD Proxy Card “FOR” the Election of ALL of its Nominees
NEW YORK, Jan. 28, 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 independent proxy advisory firm, Egan-Jones Proxy Services (“Egan-Jones”), has recommended that Matthews shareholders vote on the GOLD proxy card “FOR” ALL of Barington’s highly skilled director nominees – Ana Amicarella, Chan Galbato and James Mitarotonda – at Matthews’ Annual Meeting of Shareholders to be held February 20, 2025.
James Mitarotonda, Chairman and CEO of Barington Capital, said, “We are pleased that Egan-Jones recommends Matthews’ shareholders vote FOR all of Barington’s nominees, recognizing that change at Matthews is not only long overdue and urgently needed, but also must begin at the top. We believe Egan-Jones’ recommendation further underscores our view that Matthews is more interested in maintaining its untenable status quo – marked by empty promises that continue to result in shareholder value destruction – than refreshing the Board with highly skilled individuals prepared to drive value creation. We encourage all shareholders to follow Egan-Jones’ recommendation and vote FOR all of Barington’s nominees, who, if elected, will bring fresh perspectives; extensive leadership experience; financial, corporate strategy and turnaround expertise; and a shared objective of putting Matthews on a path to sustained value creation.”
In commenting on the failures of Matthews Board and CEO, Egan-Jones stated*:
In commenting on the strength of Barington’s nominees, Egan-Jones noted:
Barington encourages all shareholders to visit https://barington.com/matthews to review additional information regarding its campaign for change at Matthews.
*Barington has neither sought nor obtained consent from Egan-Jones to use previously published information in this press release.
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
SOURCE Barington Capital Group, L.P.
