LOS ANGELES, Nov. 13, 2018 /PRNewswire/ -- Ridgedale Partners, LLC, a significant shareholder in the common stock of BBX Capital Corporation (NYSE:BBX), has issued an open letter to Alan B. Levan, Chairman of the Board and Chief Executive Officer of BBX, calling for the Board to immediately take action to address the large discount to intrinsic value represented by the trading price of the Company's equity.
In the letter, Ridgedale outlined a specific, accretive proposal that would allow the Company to repurchase the Class B Common Stock at an almost 50% premium to the market price of the Class A Common Stock, thereby removing the overhang of the "Levan Discount" on the trading price and allowing the true economic owners to take steps to realize the significant value of the Company's assets.
The full text of the letter – The Facts About BBX Capital Corporation – can be found at: www.bbxfacts.com
Contact: Liz Rosso 916-900-6728 [email protected]
SOURCE Ridgedale Partners, LLC