Ancora Issues Statement of Support Regarding Green Plains' Intended Declassification of its Board of Directors

Rhea-AI Summary

Ancora Holdings Group LLC, the second largest shareholder of Green Plains Inc. (NASDAQ: GPRE), announced its satisfaction with the Board's decision to propose declassifying its Board of Directors at the upcoming 2022 Annual Meeting of Shareholders. Chairman and CEO Frederick D. DiSanto highlighted that the declassification reflects shareholder input and governance updates. This initiative is seen as a way to enhance transparency and engagement, building on momentum from the previous year, signaling a potential positive shift in governance that could impact shareholder confidence.

Positive

• Agreement to propose Board declassification at the 2022 Annual Meeting.
• Reflects positive shareholder engagement and responsiveness.
• Potential to enhance governance and transparency.

Negative

• None.

CLEVELAND--(BUSINESS WIRE)-- Ancora Holdings Group LLC (together with its affiliates, “Ancora” or “we”), which is the second largest shareholder of Green Plains Inc. (NASDAQ: GPRE) (“Green Plains” or the “Company”), today issued the following statement regarding the Company’s intent to declassify its Board of Directors (the “Board”) at the 2022 Annual Meeting of Shareholders (the “Annual Meeting”).

Frederick D. DiSanto, Chairman and CEO of Ancora, commented:

“Ancora is very pleased that Green Plains' Board has unanimously agreed to put a declassification proposal to a shareholder vote at the Company’s upcoming Annual Meeting. In recent months, we have had the opportunity to share our governance-related feedback and suggestions with leadership. Green Plains' efforts to update its bylaws and now declassify the Board demonstrate that shareholder input is resonating. We thank the Board and management for their engagement, and look forward to the Company building on last year’s momentum in 2022.”

About Ancora

Founded in 2003, Ancora Holdings Group LLC offers integrated investment advisory, wealth management and retirement plan services to individuals and institutions across the United States. The firm's comprehensive service offering is complemented by a dedicated team that has the breadth of expertise and operational structure of a global institution, with the responsiveness and flexibility of a boutique firm. For more information about Ancora, please visit https://ancora.net.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220204005263/en/

Longacre Square Partners

Greg Marose / Charlotte Kiaie, 646-386-0091

gmarose@longacresquare.com / ckiaie@longacresquare.com

Source: Ancora Holdings Group LLC

FAQ

What is Green Plains Inc.'s recent governance change?

Green Plains Inc. plans to declassify its Board of Directors at the 2022 Annual Meeting, following positive feedback from shareholders.

Why is Ancora Holdings Group supportive of the Board's changes?

Ancora supports the changes as they demonstrate responsiveness to shareholder input and show a commitment to better governance.

How could the declassification of the Board impact Green Plains Inc. shareholders?

The declassification could enhance shareholder confidence and improve governance practices, potentially leading to better company performance.