Rocky Mountain Chocolate Factory, Inc. - RMCF STOCK NEWS

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) reported a significant turnaround in its operating results for the three and six months ended August 31, 2021. Total revenue surged by 48.8% to $7.9 million, with net income rising to $197,000, or $0.03 per share. Franchise sales increased by 75.3%, although royalty fees saw a 53.6% uptick. Despite these gains, the company faced substantial costs from a proxy contest, amounting to approximately $907,000. Retail performance improved with same-store sales up 14.2% compared to pre-COVID levels, although some uncertainties remain regarding future sales and franchise fees.

Rocky Mountain Chocolate Factory (RMCF) announced preliminary vote results from its 2021 Annual Meeting of Stockholders. Stockholders elected four directors nominated by RMCF and two by AB Value Management. With the majority of directors nominated by RMCF, the company aims to enhance growth and profitability. The Board will focus on expanding omnichannel distribution, including digital platforms. Final voting results will be certified by an independent Inspector of Election and reported on a Form 8-K with the SEC.

The Concerned Shareholders of Rocky Mountain, represented by AB Value Management, own approximately 14.70% of Rocky Mountain Chocolate Factory's shares and are urging fellow shareholders to vote for their nominees—Andrew T. Berger, Mark Riegel, Sandra Elizabeth Taylor, and Rhonda J. Parish—via the blue proxy card. The group promotes governance reforms and supports a proposal to prevent any poison pill from being adopted without shareholder approval. Both Institutional Shareholder Services and Glass Lewis recommend shareholders vote in favor of the Concerned Shareholders' nominees, citing the need for change.

Concerned Shareholders of Rocky Mountain have criticized the Board's recent decision to rescind its poison pill, describing it as a reaction to shareholder pressure rather than genuine governance. Representing approximately 14.70% of the company’s shares, the group argues that the Board has not adequately addressed shareholder concerns and retains the authority to reintroduce poison pills without further approval. They are advocating for the Poison Pill Redemption Proposal to prevent future unilateral actions. Shareholders are urged to support their independent nominees and vote using the BLUE proxy card at the upcoming October 6, 2021 Annual Meeting.

Rocky Mountain Chocolate Factory (RMCF) urges stockholders to vote for its director nominees on the white proxy card ahead of the Annual Meeting on October 6, 2021. The company emphasizes its transformation strategy focusing on growth and innovation, asserting the qualifications of its nominated directors in areas like e-commerce and product development. RMCF highlights its strong financial position, with no debt and a healthy balance sheet, as it seeks to counter a dissident group’s attempts to gain board control, which it claims lacks a solid plan for value creation.

Rocky Mountain Chocolate Factory, Inc. (NASDAQ: RMCF) has announced the immediate termination of its stockholder rights plan, commonly known as a 'poison pill.' This decision was made after evaluating feedback from stockholders and proxy advisory firm Institutional Shareholder Services (ISS). The company is known for being a major player in the premium chocolate and confectionery retail industry, operating over 300 stores across various countries, including the United States, South Korea, and Qatar.

Concerned Shareholders of Rocky Mountain, representing 14.70% of shares, urge fellow investors to vote 'FOR' their four independent director nominees on the BLUE proxy card ahead of the upcoming Annual Meeting. They aim to enhance governance and restore shareholder value, criticizing the current Board's practices and transparency. Notably, ISS and Glass Lewis recommend changes, highlighting the lack of positive performance metrics since 2020. The letter emphasizes collaboration with management and honoring existing agreements, particularly with Immaculate Confection.

Rocky Mountain Chocolate Factory (RMCF) has issued an open letter to AB Value Management, raising concerns about AB Value's superficial proposal and misleading statements. The company emphasizes the necessity for transparent communication and urges stockholders to vote for RMCF’s nominees on the WHITE proxy card ahead of the Annual Meeting on October 6, 2021. RMCF highlights the need for clear plans from AB Value and urges stockholders to prioritize their investments.

Rocky Mountain Chocolate Factory (RMCF) announced they received a letter from Immaculate Confection, expressing concerns over misleading statements made by AB Value Management LLC.

The letter emphasizes the productive relationship between RMCF and Immaculate, and cautions that AB Value's control could jeopardize future collaboration.

Stockholders are urged to vote 'FOR' all of RMCF's director nominees using the WHITE proxy card ahead of the Annual Meeting on October 6, 2021.