Seeking Alpha

Rentech +5.6% as shareholder group seeks board nominees

  • A group led by Engaged Capital, Lone Star Value Management and a major shareholder says it has nominated four candidates for election to Rentech's (RTK +5.6%) board at the upcoming annual meeting.
  • The group highlights "its frustration at the continued destruction of shareholder value... and the persistent missteps and lapses in oversight that have caused the group to lose confidence in the current Board's ability to effectively oversee RTK."
  • RNF +3%.
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Comments (5)
  • lsuavecito
    , contributor
    Comments (1034) | Send Message
     
    <<<The group highlights "its frustration at the continued destruction of shareholder value... and the persistent missteps and lapses in oversight that have caused the group to lose confidence in the current Board's ability to effectively oversee RTK.">>>

     

    HALLELUJAH!!! It's about time!
    13 Jan 2014, 02:33 PM Reply Like
  • john wilkinson
    , contributor
    Comment (1) | Send Message
     
    I am and have been a large ivdividual shareholder dating back to the early 2000,s. I am very pleased to know that others are as disgusted as I am. I throughly support the idea of putting a well educated and concerned new group of directors in place. What has been asserted is right on, the existing board and or officers are paid outrageous salaries and make dumb business decisions year after year. Where do I sign up! I invested in this company many years ago because of two fromer officers and directors who I am sure are still large shareholders and will bo doubt support board reconstituton.
    13 Jan 2014, 04:23 PM Reply Like
  • Chris Damas
    , contributor
    Comments (1449) | Send Message
     
    Note they say management and board are terrible but since they don't like some of the assets (wood chip business, Pasadena plant), they don't say much about what the company should actually be doing and what a slate of 4 new directors would do (sell off the assets, restructure, etc), and/or whether they consider the stock undervalued. Did they buy the stock a year ago at $3 before the discussions with management started? Alot of the downside was the wheels coming off the nitrogen fertilizer business - not necessarily under the control of management.
    13 Jan 2014, 08:35 PM Reply Like
  • avenel
    , contributor
    Comment (1) | Send Message
     
    I say total replacement. Can't do the job, you are out.
    14 Jan 2014, 02:26 PM Reply Like
  • Frank Horsman
    , contributor
    Comment (1) | Send Message
     
    I think this is the most self-serving management team clearly imposing their own financial agenda. They have had too many missteps that they make Obama look like a honest broker. I think we should get rid of management and the existing board. We can find the right leaders, management and financial managers that can drive this business model to a substantial shareholder value in 3 to 5 years. I have been a shareholders for more than 4 years and these guys are incompetent.
    14 Jan 2014, 06:44 PM Reply Like
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