CLEVELAND, June 3, 2019 /PRNewswire/ -- Ancora Advisors, LLC, which beneficially owns approximately 8.76% of the outstanding shares of J. Alexander's Holdings, Inc. (NYSE: JAX), making it one of the Company's largest shareholders, announced that it has filed definitive proxy materials with the Securities and Exchange Commission. The definitive proxy materials urge J. Alexander's shareholders to use the GOLD proxy card to WITHHOLD their votes from the election of Timothy Janszen and Ronald Maggard to the Board of Directors of J. Alexander's at the 2019 Annual Meeting of Shareholders scheduled to be held on June 20, 2019.
In connection with the filing of its definitive proxy materials, Ancora issued a letter urging shareholders to send a clear message to the J. Alexander's Board that the status quo is unacceptable and that the Board should immediately engage with Ancora on its proposal to acquire the Company for $11.75 per share in cash or otherwise run a strategic process focused on the sale of the Company. Ancora also issued a detailed investor presentation outlining the reasons for its withhold campaign.
Please click the following link to access the full letter and investor presentation: www.saratogaproxy.com/Ancora
About Ancora Advisors
Ancora Holdings, Inc. is an employee owned, Cleveland, Ohio based holding company which wholly owns three separate and distinct SEC Registered Investment Advisers, Ancora Advisors, LLC, Ancora Family Wealth Advisors, LLC and Ancora Retirement Plan Advisors, Inc. and Inverness Securities LLC, a broker dealer. Ancora Advisors, LLC specializes in customized portfolio management for individual investors, high net worth investors, investment companies (mutual funds), pooled investments (hedge funds/investment limited partnerships), and institutions such as pension/profit sharing plans, corporations, charitable and "Not-for Profit" organizations, and unions. Ancora Family Wealth Advisors, LLC is a leading, regional investment and wealth advisor managing assets on behalf of families and high net-worth individuals. Ancora Retirement Plan Advisors, Inc. specializes in providing non-discretionary investment guidance for small and midsize employer sponsored retirement plans.
Saratoga Proxy Consulting LLC
SOURCE Ancora Advisors, LLC