Thursday, August 1, 2013

Stocks DD Cites: Minority Shareholder Bluemountain Proposes 2 nominees to Taro Board

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Letter by Bluemountain that owns 1.5% of Taro

Excerpts from Bluemountain's Letter below

OT: Unlocking Shareholder Value
It is our belief that there exists a significant ongoing opportunity to create shareholder value at Taro through, among other best practices, refining of its business strategy, evaluating an optimal capital structure and the use of Taro's growing cash balance, implementing more robust capital markets and shareholder communications, and ensuring that all strategic options are considered on an arm's length basis.
We continue to expend considerable time and resources to explore all avenues available to ensure that value is maximized for all shareholders of Taro. We will continue to do so as necessary.  To this end, we have nominated the following individuals, whom we believe bring the requisite industry, operational, strategic and financial experience to execute the duties of External Director in a manner consistent with the letter and spirit of the Companies Law.

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