22NW Fund Delivers Letter to Alaska Communications Board
Disappointed by Poor Capital Allocation that has Failed to Achieve Meaningful Revenue Growth
Highlights Excessive Compensation Paid to Management Despite Persistent Underperformance and Negative Total Shareholder Returns
Believes an Independent Investment Bank is Needed to Explore Strategic Alternatives
SEATTLE, Oct. 4, 2018 /PRNewswire/ -- 22NW Fund, LP, an investment partnership with more than $200 million under management, announced today that it delivered a letter to the Board of Directors of Alaska Communications Systems Group, Inc. ("ALSK" or, the "Company") (NASDAQ: ALSK). 22NW owns approximately 1,186,409 shares, or about 2.2%, of ALSK.
The full text of the letter follows:
https://mma.prnewswire.com/media/754386/ALSK_Open_Letter_to_the_Board_Oct18_4762308_1___002.pdf
About 22NW Fund, LP:
Founded in 2015, 22NW Fund is a Seattle-based value fund with $200 million of assets under management. The firm specializes in small and microcap investments and has a multi-year investment horizon.
Contact:
Aron English
(206) 227-3078
SOURCE 22NW Fund, LP
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