Alta Fox to Nominate Slate of Six Highly Qualified Director Candidates for Election at Collectors Universe's 2020 Annual Meeting

Rhea-AI Summary

Alta Fox Capital Management, a major shareholder of Collectors Universe (CLCT), with a 5.4% ownership stake, has nominated six qualified director candidates for election to the board at the 2020 Annual Meeting of Shareholders. This move is aimed at enhancing governance and strategic direction at the Company. Alta Fox has issued a letter to shareholders urging them to support its nominees and is set to file a preliminary proxy statement with the SEC regarding the upcoming election. Shareholders are encouraged to read the proxy materials as they will contain vital information.

Positive

• Alta Fox Capital holds a significant 5.4% stake in CLCT, indicating strong interest in corporate governance.
• The nomination of six qualified candidates may improve board diversity and strategy.

Negative

• Potential shareholder conflict if opposing candidates emerge.
• Uncertainty around the outcomes of the upcoming election may lead to volatility in stock price.

NEW YORK, June 18, 2020 /PRNewswire/ --  Alta Fox Capital Management, LLC (together with its affiliates, "Alta Fox"), one of the largest shareholders of Collectors Universe, Inc. ("CLCT" or the "Company")(NASDAQ: CLCT), with an ownership interest of approximately 5.4% of the Company's outstanding shares, today announced that it has nominated a slate of six highly qualified director candidates for election to the CLCT Board of Directors (the "Board") at the Company's 2020 Annual Meeting of Shareholders.

Alta Fox also announced today that it has issued the following open letter to CLCT shareholders, the full text of which can be viewed at the following link:

Letter to CLCT Shareholders

About Alta Fox Capital Management, LLC

Alta Fox Capital Management, LLC is a Texas-based investment adviser to funds that are in the business of buying and selling securities and other financial instruments. Alta Fox has a specialized focus in the small and micro-cap space. Alta Fox invests in high quality assets early in their growth cycle in order to unlock and produce attractive results that are not easily identifiable to the general investment community.

Investor contact:
Connor Haley, (817)-639-2369
www.altafoxcapital.com

CERTAIN INFORMATION CONCERNING THE PARTICIPANTS

Alta Fox Capital Management, LLC, together with the other participants named herein (collectively, "Alta Fox"), intends to file a preliminary proxy statement and accompanying WHITE proxy card with the Securities and Exchange Commission ("SEC") to be used to solicit votes for the election of its slate of highly-qualified director nominees at the 2020 annual meeting of stockholders of Collectors Universe, Inc., a Delaware corporation (the "Company").

ALTA FOX STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR.

The participants in the proxy solicitation are anticipated to be Alta Fox Capital Management, LLC ("Alta Fox Capital"), Alta Fox Equity, LLC ("Alta Fox LLC"), Alta Fox GenPar, LP ("Alta Fox GP"), Alta Fox Opportunities Fund, LP ("Alta Fox Opportunities"), Alta Fox SPV 1, LP ("Alta Fox SPV 1"), P. Connor Haley, Lorraine Bardeen, Damian L. Blazy, Judy Krandel, Susanne L. Meline, and Nathaniel S. Turner V.

As of the date hereof, Alta Fox Opportunities beneficially owns directly 287,421 shares of Common Stock, par value $.001 per share, of the Company (the "Common Stock"). As of the date hereof, Alta Fox SPV 1 beneficially owns directly 209,524 shares of Common Stock. Alta Fox GP, as the general partner of each of Alta Fox Opportunities and Alta Fox SPV 1, may be deemed the beneficial owner of an aggregate of 496,945 shares of Common Stock owned directly by Alta Fox Opportunities and Alta Fox SPV 1. Alta Fox LLC, as the general partner of Alta Fox GP, may be deemed the beneficial owner of 496,945 shares of Common Stock owned directly by Alta Fox Opportunities and Alta Fox SPV 1. Alta Fox Capital, as the investment manager of both Alta Fox Opportunities and Alta Fox SPV 1, may be deemed the beneficial owner of the 496,945 shares of Common Stock owned directly by Alta Fox Opportunities and Alta Fox SPV 1. Mr. Haley, as the Managing Partner of Alta Fox Capital and Managing Member of Alta Fox LLC, may be deemed the beneficial owner of the 496,945 shares owned directly by Alta Fox Opportunities and Alta Fox SPV 1. As of the date hereof, Mr. Turner directly beneficially owns 1,300 shares of Common Stock. As of the date hereof, Mr. Blazy and Mses. Bardeen, Krandel and Meline do not own any shares of Common Stock. 

 

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SOURCE Alta Fox Capital Management, LLC

FAQ

What is Alta Fox's stake in Collectors Universe (CLCT)?

Alta Fox Capital Management holds approximately 5.4% of the outstanding shares of Collectors Universe (CLCT).

What action did Alta Fox take regarding the CLCT Board of Directors?

Alta Fox has nominated a slate of six qualified candidates for election to the CLCT Board at the 2020 Annual Meeting.

When is the Annual Meeting of Shareholders for Collectors Universe (CLCT)?

The Annual Meeting of Shareholders for Collectors Universe is scheduled for 2020, date unspecified in the PR.

What should shareholders do regarding the proxy materials from Alta Fox?

Shareholders are strongly advised to read the upcoming proxy statement and materials as they will contain important information.

Where can I find the letter from Alta Fox to CLCT shareholders?

The full text of the letter to CLCT shareholders can be viewed via the provided link in the press release.