Noble Roman's Invites Participation at its Annual Shareholder Meeting on August 27th; Provides Facts to Clarify Mischaracterizations Circulated by Third Party
Noble Roman's, Inc. (OTCQB:NROM) has invited shareholders to attend its Annual Shareholder Meeting on August 27, 2024, and provided clarifications regarding misleading statements circulated by BT Brands, Inc (BTB). The company highlights that:
1. BTB failed to comply with by-law requirements for nominating directors.
2. Noble Roman's held its 2023 Annual Meeting on August 10, 2023.
3. BTB's recent open letter to shareholders was issued illegally.
4. Year-to-date, Noble Roman's stock price has gained 54%, while BTB's has declined over 47%.
The company urges shareholders to vote for the nominees endorsed by the Board of Directors and emphasizes its commitment to proper corporate governance and shareholder protection.
Noble Roman's, Inc. (OTCQB:NROM) ha invitato gli azionisti a partecipare alla sua Assemblea Annuale degli Azionisti il 27 agosto 2024, e ha fornito chiarimenti riguardo a dichiarazioni fuorvianti diffuse da BT Brands, Inc (BTB). L'azienda sottolinea che:
1. BTB non ha rispettato i requisiti statutari per la nomina dei direttori.
2. Noble Roman's ha tenuto la sua Assemblea Annuale 2023 il 10 agosto 2023.
3. La recente lettera aperta di BTB agli azionisti è stata emessa illegalmente.
4. Fino ad oggi, il prezzo delle azioni di Noble Roman's è aumentato del 54%, mentre quello di BTB è diminuito di oltre il 47%.
L'azienda esorta gli azionisti a votare per i candidati sostenuti dal Consiglio di Amministrazione e sottolinea il proprio impegno per una governance aziendale adeguata e la protezione degli azionisti.
Noble Roman's, Inc. (OTCQB:NROM) ha invitado a los accionistas a asistir a su Asamblea Anual de Accionistas el 27 de agosto de 2024, y proporcionó aclaraciones sobre declaraciones engañosas difundidas por BT Brands, Inc (BTB). La compañía destaca que:
1. BTB no cumplió con los requisitos de los estatutos para la nominación de directores.
2. Noble Roman's celebró su Asamblea Anual de 2023 el 10 de agosto de 2023.
3. La reciente carta abierta de BTB a los accionistas fue emitida ilegalmente.
4. Hasta la fecha, el precio de las acciones de Noble Roman's ha aumentado un 54%, mientras que el de BTB ha disminuido más del 47%.
La compañía insta a los accionistas a votar por los nominados respaldados por la Junta Directiva y enfatiza su compromiso con una gobernanza corporativa adecuada y la protección de los accionistas.
Noble Roman's, Inc. (OTCQB:NROM)은 주주들에게 2024년 8월 27일에 열리는 연례 주주총회에 참석할 것을 초대하며, BT Brands, Inc (BTB)에서 배포한 오해의 소지가 있는 진술에 대한 설명을 제공했습니다. 회사는 다음과 같은 사항을 강조했습니다:
1. BTB는 이사를 지명하기 위한 정관 요건을 준수하지 않았습니다.
2. Noble Roman's는 2023년 8월 10일에 2023년 연례 회의를 개최했습니다.
3. BTB가 주주들에게 발행한 최근 공개 편지는 불법적으로 발송되었습니다.
4. 올해 현재, Noble Roman's의 주가는 54% 상승했으며, BTB의 주가는 47% 이상 하락했습니다.
회사는 주주들에게 이사회의 지지를 받는 후보자들에게 투표할 것을 권장하며, 적절한 기업 거버넌스 및 주주 보호에 대한 자신의 의지를 강조합니다.
Noble Roman's, Inc. (OTCQB:NROM) a invité les actionnaires à assister à son Assemblée Générale Annuelle le 27 août 2024, et a fourni des clarifications concernant des déclarations trompeuses diffusées par BT Brands, Inc (BTB). L'entreprise souligne que :
1. BTB n'a pas respecté les exigences statutaires pour la nomination des directeurs.
2. Noble Roman's a tenu son Assemblée Annuelle 2023 le 10 août 2023.
3. La récente lettre ouverte de BTB aux actionnaires a été publiée illégalement.
4. Depuis le début de l'année, le prix des actions de Noble Roman's a augmenté de 54%, tandis que celui de BTB a baissé de plus de 47%.
L'entreprise exhorte les actionnaires à voter pour les candidats soutenus par le Conseil d'Administration et souligne son engagement en faveur d'une gouvernance d'entreprise appropriée et de la protection des actionnaires.
Noble Roman's, Inc. (OTCQB:NROM) hat die Aktionäre eingeladen, an der jährlichen Hauptversammlung am 27. August 2024 teilzunehmen und hat Klarstellungen zu irreführenden Aussagen von BT Brands, Inc (BTB) gegeben. Das Unternehmen betont, dass:
1. BTB die satzungsmäßigen Anforderungen für die Nominierung von Direktoren nicht eingehalten hat.
2. Noble Roman's hat die Hauptversammlung 2023 am 10. August 2023 abgehalten.
3. Der kürzliche offene Brief von BTB an die Aktionäre wurde illegal veröffentlicht.
4. Seit Jahresbeginn ist der Aktienkurs von Noble Roman's um 54% gestiegen, während der von BTB um über 47% gesunken ist.
Das Unternehmen fordert die Aktionäre auf, für die von dem Vorstand unterstützten Kandidaten zu stimmen, und betont sein Engagement für ordnungsgemäße Unternehmensführung und den Schutz der Aktionäre.
- Noble Roman's stock price has gained 54% year-to-date
- Company successfully held its 2023 Annual Meeting on August 10, 2023
- Board of Directors unanimously endorsed nominees for upcoming election
- None.
INDIANAPOLIS, IN / ACCESSWIRE / August 19, 2024 / Noble Roman's, Inc. (OTCQB:NROM) ("Noble Roman's" or the "Company"), the Indianapolis based franchisor and operator of Noble Roman's Pizza and Noble Roman's Craft Pizza & Pub, today encouraged all Noble Roman's shareholders to attend its Annual Shareholder Meeting on August 27, 2024, and provided facts to correct the illegal, misleading statements BT Brands, Inc ("BTB") recently published about the Company.
Paul Mobley, Executive Chairman of Noble Roman's, Inc., said, "On behalf of Noble Roman's Board of Directors, senior management, and dedicated employees, we hope to see all of our shareholders at our Annual Shareholder Meeting on August 27th starting at 10:30 AM here in Indianapolis. Please remember to get your proxy turned in ahead of the meeting date and make sure your shares are voted for the nominees unanimously endorsed by the Company's Board of Directors."
For many years, Noble Roman's by-laws, prominently available to anyone (and in BTB's possession), have set forth customary procedures shareholders must follow to properly bring business before a shareholder meeting, in order to enable the Company to hold orderly meetings. Incredibly, BTB has admitted that for the second year in a row it failed to comply with the rules and again demands that the Company waive the requirements and allow its nominations anyway. And BTB has accompanied those ill-advised and damaging efforts with a number of public statements that are incorrect, slanderous and false as to both the relevant facts and the law.
The Company believes it is important to provide our shareholders the following corrections and clarifications to the many mischaracterizations recently circulated by BTB:
BTB failed to comply with the requirements of the Company's by-laws and federal securities laws in purporting to advance certain nominees for election to the Company's Board of Directors. BTB is subject to the same publicly available procedural requirements as all shareholders. Last year, BTB falsely represented its Noble Roman's stock ownership to the Company; this year they failed to provide the necessary information and undertakings.
Shareholders may recall that last year BTB sued the Company in Federal Court in Indiana. The Court denied BTB's motion for a temporary restraining order and preliminary injunction, stating BTB's claims did not have a likelihood of success. After that, BTB voluntarily withdrew its lawsuit.
With respect to this year's annual meeting, Noble Roman's provided BTB detailed communications on June 17, 2024, and August 14, 2024, respectively, outlining its failure to satisfy the legal requirements.
In its public statements, BTB attempts to excuse its manipulative tactics by claiming (1) they were entitled to certain notices from the Company because the Company did not hold an Annual Meeting of its Shareholders last year and (2) because the Company did not provide BTB a questionnaire that the Company may require under its by-laws. These excuses are simply wrong.
Noble Roman's duly called and held its 2023 Annual Meeting of Shareholders on August 10, 2023. While a quorum was not present at the meeting because BTB refused to represent the shares held by shareholders from whom it claims it had solicited proxies to vote shares, the meeting was validly held. BTB has no legal basis for its position to the contrary.
The Company's by-laws provide that in addition to the information a nominating shareholder is required to provide by the by-laws and the federal securities laws, the Company may require the nominee to complete and provide a questionnaire. BTB admits it did not provide the required information for nomination, so the issue of a questionnaire never became relevant.
BTB illegally issued its recent open letter to Noble Roman's shareholders. The SEC's proxy rules prohibit beneficial owners from relying on the exemption from heightened oversight from the SEC staff claimed by BTB. That regulatory relief is not available to a beneficial owner like BTB, who has disclosed an intention to engage in an election contest or reserves the right to pursue a change of control transaction. BTB's Schedule 13D further evidences its non-compliance with the SEC's proxy regulatory framework which provides important protections for Noble Roman's shareholders from abusive tactics like those BTB is engaged in.
Year-to-date, the trading price of BTB's stock has declined over
47% reflecting continuing operating losses and cash burn at their restaurants and for overhead, while Noble Roman's stock price has gained54% reflecting successful execution of its business strategy. In their recent SEC reporting, BTB showed a net loss from operations in their latest six-month reporting period of ($819,372) compared to a loss for the same six-month period in 2023 of ($330,306) .
The statements contained in this press release concerning the company's future revenues, profitability, financial resources, market demand and product development are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) relating to the company that are based on the beliefs of the management of the company, as well as assumptions and estimates made by and information currently available to the company's management. The company's actual results in the future may differ materially from those indicated by the forward-looking statements due to risks and uncertainties that exist in the company's operations and business environment, including, but not limited to the continuing after-effects of the COVID-19 pandemic, the ability of franchisees to timely prepare their units for scheduled openings, the company's ability to maintain adequate staff for new openings, competitive factors and pricing and cost pressures, non-renewal of franchise agreements or the openings contemplated by the development agreement not occurring, shifts in market demand, the success of franchise programs, including the Noble Roman's Craft Pizza & Pub format, general economic conditions, changes in demand for the company's products or franchises, the company's ability to service its loans, the impact of franchise regulation, the success or failure of individual franchisees and inflation, other changes in prices or supplies of food ingredients and labor and, as well as the factors discussed under "Risk Factors" contained in this company's Annual Report on Form 10-K for the year ended December 31, 2023. Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. If activist stockholder activities ensue, the company's business could be adversely impacted.
FOR ADDITIONAL INFORMATION, CONTACT:
For Media Information: Scott Mobley, President & CEO (smobley@nobleromans.com)
For Investor Relations: Paul Mobley, Executive Chairman (pmobley@nobleromans.com)
Mike Cole, Investor Relations: 949-444-1341 (mike.cole@armaadvisoryservices.com)
SOURCE: Noble Romans, Inc.
View the original press release on accesswire.com
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