DAYTONA BEACH, Fla.–(BUSINESS WIRE)–
Consolidated-Tomoka Land Co. (NYSE MKT: CTO) (CTO or the Company) today sent a letter to Wintergreen Advisers, LLC (Wintergreen) in response to the letter publicly filed by Wintergreen on January 23, 2017.
The company also issued the following statement:
Wintergreens position with regard to its proposed director nominations has no legal merit. The facts are simple: Wintergreen is not a shareholder of record of Consolidated-Tomoka. The Companys bylaws clearly state that record ownership, not just beneficial ownership, is required to nominate director candidates to stand for election at the Companys Annual Meeting. A different legal standard applies to Wintergreens shareholder proposals, which the Compan…
Read the full article at: http://finance.yahoo.com/news/consolidated-tomoka-issues-response-wintergreen-140000747.html