Barington Capital Sends Letter to Matthews International Shareholders Urging Them to Vote GOLD "FOR" the Election of ALL of Barington's Nominees to the Matthews Board

Rhea-AI Summary

Barington Capital, owning approximately 2.1% of Matthews International (NASDAQ: MATW), has sent a letter to shareholders urging them to vote for their three director nominees to the Matthews Board. The letter highlights that all three leading proxy advisory firms - ISS, Glass Lewis, and Egan-Jones - have unanimously recommended shareholders vote in favor of Barington's nominees: Ana B. Amicarella, Chan W. Galbato, and James Mitarotonda.

Barington emphasizes Matthews' poor fiscal 2025 first quarter earnings results as evidence of management's pattern of unfulfilled promises. The activist investor believes their nominees bring necessary skills and fresh perspectives to drive meaningful change and long-term value creation at Matthews.

Positive

• Unanimous support from all three major proxy advisory firms for Barington's nominees
• Potential for improved oversight and accountability through board changes

Negative

• Poor fiscal 2025 first quarter earnings performance
• Ongoing management issues and unfulfilled promises
• Active proxy contest indicating corporate governance concerns

Highlights Unanimous Support of Barington's Director Nominees by Leading Proxy Advisory Firms ISS, Glass Lewis and Egan-Jones

Believes Matthews' Poor Fiscal 2025 First Quarter Earnings Results Further Demonstrates Management's Pattern of False Hope and Empty Promises

Barington's Nominees Bring the Skills, Experience and Fresh Perspectives Required to Help Drive Meaningful Change and Long-Term Value Creation at Matthews

NEW YORK, Feb. 12, 2025 /PRNewswire/ -- Barington Capital Group, L.P. ("Barington Capital"), a fundamental, value-oriented activist investor that, together with the other participants in its solicitation (collectively "Barington" or "we"), beneficially owns approximately 2.1% of the outstanding shares of common stock of Matthews International Corporation (NASDAQ: MATW) ("Matthews" or the "Company"), today sent a letter to the Company's shareholders highlighting unanimous support for the election of its director nominees – Ana B. Amicarella, Chan W. Galbato and James Mitarotonda – to the Matthews Board of Directors by all three leading independent proxy advisory firms as well as the Company's dismal fiscal 2025 first quarter earnings results.

The full letter is available at https://barington.com/matthews

James Mitarotonda, Chairman and CEO of Barington Capital, said, "We believe the time for change at Matthews is now. All three leading independent proxy advisory firms, ISS, Glass Lewis and Egan-Jones, agree and have unanimously recommended that Matthews' shareholders vote in favor of the election of Barington's nominees to the Matthews Board and against the status quo. By voting the GOLD proxy card "FOR" the election of Ana Amicarella, Chan Galbato and James Mitarotonda, shareholders can help protect the value of their investment and restore much-needed accountability and strong oversight of management to the Matthews Board. We urge shareholders to make their voices heard and join us in electing Barington's nominees today."

TIME IS RUNNING OUT: FOLLOW THE RECOMMENDATIONS OF CREDIBLE THIRD-PARTY PROXY ADVISORY FIRMS AND VOTE GOLD TODAY

For additional information regarding Barington's campaign at Matthews, visit: https://barington.com/matthews 

ABOUT BARINGTON CAPITAL GROUP, L.P.

Barington Capital Group, L.P. is a fundamental, value-oriented activist investment firm established by James Mitarotonda in January 2000.  Barington invests in undervalued publicly traded companies that Barington believes can appreciate significantly in value when substantive improvements are made to their operations, corporate strategy, capital allocation and corporate governance.  Barington's investment team, advisors and network of industry experts draw upon their extensive strategic, operating and boardroom experience to assist companies in designing and implementing initiatives to improve long-term shareholder value.

Media Contact:
Jonathan Gasthalter/Amanda Shpiner
Gasthalter & Co.
212-257-4170

Important Information and Participants in the Solicitation

Barington has filed a definitive proxy statement and associated GOLD 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 upcoming annual meeting of stockholders of the Company. Details regarding the Barington nominees and the participants in its solicitation are included in its proxy statement and Barington strongly advises all shareholders of the company to read the proxy statement and other proxy materials as they contain important information.

The participants in Barington's proxy solicitation are Barington, Barington Companies Investors, LLC, Barington Capital Group, L.P., LNA Capital Corp., James Mitarotonda, 1 NBL EH, LLC, Joseph Gromek, Ana B. Amicarella and Chan W. Galbato.

If you have any questions, require assistance in voting your GOLD universal proxy card, or need additional copies of Barington's proxy materials, please contact:

Okapi Partners
1212 Avenue of the Americas, 17^th Floor
New York, NY 10036

Banks and Brokerage Firms, Please Call: (212) 297-0720
Shareholders and All Others Call Toll-Free: (877) 285-5990
E-mail: info@okapipartners.com

View original content:https://www.prnewswire.com/news-releases/barington-capital-sends-letter-to-matthews-international-shareholders-urging-them-to-vote-gold-for-the-election-of-all-of-baringtons-nominees-to-the-matthews-board-302374258.html

SOURCE Barington Capital Group, L.P.

FAQ

What is Barington Capital's ownership stake in Matthews International (MATW)?

Barington Capital beneficially owns approximately 2.1% of Matthews International's (MATW) outstanding shares.

Who are Barington's nominees for the Matthews International (MATW) board?

Barington's nominees are Ana B. Amicarella, Chan W. Galbato, and James Mitarotonda.

Which proxy advisory firms have supported Barington's nominees for MATW's board?

All three leading proxy advisory firms - ISS, Glass Lewis, and Egan-Jones - have unanimously supported Barington's nominees.

How did Matthews International (MATW) perform in Q1 fiscal 2025?

According to Barington Capital, Matthews International reported poor earnings results for the first quarter of fiscal 2025.

What changes does Barington Capital want to implement at MATW?

Barington aims to restore accountability and strong oversight of management through board changes, bringing in new skills and fresh perspectives to drive long-term value creation.