Parks! America Announces ISS Recommends Shareholders Vote “FOR” Each of the Director Nominees Recommended by the Board
Parks! America, a leading U.S. regional safari park operator, announced that Institutional Shareholder Services (ISS) has recommended shareholders vote 'FOR' the Board's nominees at the upcoming Annual Meeting on June 6, 2024.
ISS supports CEO Lisa Brady and the Board's slate of directors, which includes six management nominees and one from Focused Compounding. Focused Compounding's other nominees and proposal were recommended against due to a lack of a detailed critique and concrete plans.
Lisa Brady expressed satisfaction with the endorsements from ISS and Glass Lewis, highlighting the progress in revitalizing the parks and enhancing shareholder value. Shareholders are urged to vote using the WHITE proxy card.
- ISS and Glass Lewis support the Board's nominees, which enhances management credibility.
- Endorsements validate the current Board's strategic direction and management.
- Ongoing measurable progress in revitalizing park properties.
- Focus on enhancing shareholder value.
- No detailed critique or go-forward plan presented by Focused Compounding.
- Potential risks associated with the opposition from Focused Compounding.
ISS Joins Glass Lewis in Support of CEO Lisa Brady and the Parks! America slate of directors
Parks! America Reminds Shareholders to Vote Today on the WHITE Proxy Card for Our Highly Qualified Nominees
PINE MOUNTAIN, Georgia, May 28, 2024 (GLOBE NEWSWIRE) -- Parks! America, Inc. (OTCPink: PRKA) (the “Company” or “Parks! America”), a leading operator of regional safari parks in the U.S., announced today that Institutional Shareholders Services, Inc, (“ISS”), a leading independent proxy advisory firm, has recommended that Parks! America shareholders vote “FOR” each of the Board of Directors’ nominees: Lisa Brady, Charles Kohnen, Jeffery Lococo, Rick Ruffolo, Jon M. Steele and Todd R. White; “FOR” Geoff Gannon, the Focused Compounding Fund, LP (collectively with its affiliates, “Focused Compounding”) nominee who was recommended by the Board of Directors; “AGAINST” all other Focused Compounding nominees; and “AGAINST” the Focused Compounding proposal at the upcoming Annual Meeting on June 6, 2024.
The ISS Analysis stated, “Given the lack of detail of the dissident critique, and the lack of a go-forward plan underlying its attempt at board control, support for the dissident campaign (Focused Compounding) is not warranted (emphasis added). Shareholders are therefore recommended to vote FOR the board-supported candidates, which include the six members of the management slate (White, Kohnen, Brady, Lococo, Ruffolo, and Steele) and one dissident nominee (Gannon).”
Lisa Brady, Chief Executive Officer of Parks! America, said, “We are pleased that the non-partisan analyses of both ISS and Glass Lewis have concluded that the interests of the Parks! America shareholder base are best served by the current management team and the Board of Directors. This is a strong validation from the leading independent arbiters in these corporate matters. We are making measurable progress in reinvigorating our properties after years of neglect and significant disrepair. We look forward to continuing to execute our strategic plan and to enhance shareholder value.”
VOTE “FOR” PARKS! AMERICA’S NOMINEES ON THE WHITE PROXY CARD TODAY
If you have any questions or require any assistance with voting, please contact the Company’s proxy solicitor, Saratoga Proxy Consulting, LLC, by calling (212) 257-1311 or toll free at (888) 368-0379, or by email at info@saratogaproxy.com.
About Parks! America, Inc.
Parks! America, Inc. (OTCPink: PRKA), through its wholly owned subsidiaries, owns and operates three regional safari parks - the Wild Animal Safari theme park in Pine Mountain, Georgia, the Wild Animal Safari theme park located in Strafford, Missouri, and the Aggieland Wild Animal Safari theme park, located near Bryan/College Station, Texas.
Additional information, including our Annual Report on Form 10-K for the fiscal year ended October 1, 2023, is available on the Company’s website, http://www.animalsafari.com.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain “forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements include statements concerning our future plans, business strategy, liquidity, capital expenditures, sources of revenue and other similar statements that are not historical in nature. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this news release and speak only as of the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results to differ significantly from those expressed or implied by such forward-looking statements. Readers are advised to consider the factors listed under the heading “Risk Factors” and the other information contained in the Company’s Annual Report on Form 10-K and other reports filed from time to time with the U.S. Securities and Exchange Commission (the “SEC”). We undertake no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Important Additional Information
The Company, its directors, nominees and certain of its executive officers are participants in the solicitation of proxies from the Company’s stockholders in connection with any matters to be considered at the upcoming annual meeting of stockholders, scheduled to be held on June 6, 2024 (including any adjournments or postponements thereof, the “Annual Meeting”). On April 23, 2024, the Company filed a definitive proxy statement, as amended May 3, 2024 (the “Definitive Proxy Statement”), and a WHITE proxy card with the SEC in connection with the solicitation of proxies from the Company’s stockholders with respect to the Annual Meeting. STOCKHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, THE ACCOMPANYING WHITE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AS THEY CONTAIN IMPORTANT INFORMATION RELATING TO THE ANNUAL MEETING. The Definitive Proxy Statement contains information regarding the direct and indirect interests, by security holdings or otherwise, of the Company’s directors, nominees and executive officers in the Company’s securities. Such information can be found in the section entitled “Security Ownership of Certain Beneficial Owners and Management” in the Definitive Proxy Statement on page 16 and available here. Stockholders can obtain the Definitive Proxy Statement with respect to the Annual Meeting, including any amendments or supplements to such proxy statement and other documents filed by the Company with the SEC at no charge at the SEC’s website at www.sec.gov. Copies would also be available at no charge on the Company’s website at https://animalsafari.com/investor-relations/.
Contacts:
Lisa Brady
President and Chief Executive Officer
(706) 663-8744
Todd R. White
Chief Financial Officer
(706) 663-8744
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