DARIEN, Conn., July 25, 2016 /PRNewswire/ -- The following is an open letter to shareholders of Imdex Ltd from Iron Compass:
Dear Fellow Shareholders,
Funds affiliated with Iron Compass currently own 8.5% of the stock of Imdex Limited (ASX: IMD). We are currently exploring various paths to maximize shareholder value. Our activities may include, but are not limited to i) communicating with the company's Board of Directors and management; ii) exercising the right to call or have the Board call and propose resolutions at a General Meeting of the company pursuant to s249D or s249F of the Corporations Act 2001 (Cth); and iii) exercising the right to propose resolutions at Imdex's next Annual General Meeting.
James Hegyi & Matt Kupersmith
Partners, Iron Compass
About Iron Compass
Iron Compass endeavors to be a long term owner of 'classically great' businesses. These are companies we believe have a distinct competitive advantage that allows them to generate high returns on invested capital, stable cash flow, and growth over the long term. The greatest businesses seek to outperform contemporaneously in both operations and capital management.
SOURCE Iron Compass LLC