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SOURCE SpringOwl Asset Management LLC
NEW YORK, May 9, 2014 /PRNewswire/ -- Jason N. Ader of SpringOwl Gibraltar Partners B Ltd. (together with its affiliates, "SpringOwl"), the owner of approximately 5.25% of the issued ordinary shares of bwin.party digital entertainment plc (LSE: BPTY.L), today announced that ISS and Glass Lewis & Co., leading global independent proxy advisory firms, recommend that their institutional shareholder clients vote for Board change at the Annual General Meeting to be held on May 22, 2014.
In making its recommendation to support the SpringOwl candidates Michael Fertik, Francis Grady and Steven Rittvo, Glass Lewis noted the following:
In making its recommendation to support SpringOwl candidate Kalendu Patel, ISS noted*:
"We are gratified that both leading voting advisory firms have found that change to the Board is in the best interest of shareholders. We thank Glass Lewis for supporting the election of technology industry expert Michael Fertik, gaming industry expert Steven Rittvo and banking/regulatory expert Francis Grady," Mr. Ader stated. "Additionally, we are appreciative of ISS's support for emerging technology expert Kalendu Patel. We believe that these four highly qualified independent candidates will significantly contribute to the ability of the reconstituted board to create meaningful value for all BPTY shareholders."
SpringOwl urges all BPTY shareholders to vote TODAY for all four of the Highly-Qualified Independent Director candidates set forth in Resolutions 19, 20, 21 and 22.
Shareholders with questions or who need assistance in voting their shares, should call Lake Isle M&A Incorporated at +44-20-7710-9960 (from the EU); or Innisfree M&A Incorporated, toll-free at +1-888-750-5834 (from the US and Canada) or +1-412-232-3651 (from other countries). Banks and brokers may call collect at +1-212-750-5833.
ABOUT SPRINGOWL GIBRALTAR PARTNERS B LTD
SpringOwl Gibraltar Partners B Ltd., the ("Fund"), is a Cayman Islands exempted company formed December 18, 2013. SpringOwl Associates LLC (the "Investment Manager"), a New York limited liability company which is the Investment Manager to the Fund, commenced operations in 1970, under the name of Cumberland Associates, and is wholly owned and controlled by SpringOwl Asset Management LLC ("SpringOwl"), a Delaware limited liability company founded in 2013. The principal owners of SpringOwl are Jason N. Ader and Andrew M. Wallach.
* Permission to use quotations was neither sought nor obtained.
©2012 PR Newswire. All Rights Reserved.
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