Lee Enterprises Sends Letter to Shareholders Ahead of March 10 Annual Meeting
Urges Shareholders to Vote “FOR” the Board’s Highly Experienced Nominees on the WHITE Proxy Card
Shareholders Should Vote by Phone or Internet to Ensure Their Vote is Received by March 10 Meeting Date
DAVENPORT, Iowa, March 02, 2022 (GLOBE NEWSWIRE) -- Lee Enterprises, Incorporated (NASDAQ: LEE) (“Lee”) today sent a letter to shareholders urging them to vote “FOR” the Board’s three nominees standing for reelection at Lee’s 2022 Annual Meeting on March 10: Chairman Mary Junck, Lead Independent Director Herb Moloney and Chief Executive Officer Kevin Mowbray.
The letter highlights the recent recommendation from leading independent proxy advisory firm Institutional Shareholder Services (ISS) to vote the WHITE proxy card “FOR” all of Lee’s director nominees; the significant progress Lee is making on the continued execution of its Three Pillar Digital Growth Strategy; and the strength of Lee’s incumbent, highly qualified and recently refreshed Board.
The letter also reminds shareholders that in the last few weeks, Alden Global Capital, LLC (together with its affiliates, “Alden”) has also filed two lawsuits against Lee as part of its campaign, both of which were recently rejected by the Delaware Court of Chancery.
Lee’s Board urges shareholders to protect their investment by voting “FOR” ALL the Board’s three nominees using the WHITE proxy card. If you have already returned a blue proxy card sent by Alden, you can change your vote by signing, dating, and returning a WHITE proxy card. Only your latest dated proxy card will be counted.
The letter and additional information related to Lee’s 2022 annual meeting can be found at investors.lee.net/2022-annual-meeting.
If you have any questions or require any assistance in voting your shares, please contact Lee’s proxy solicitor:
Morrow Sodali LLC
509 Madison Avenue Suite 1206
New York, NY 10022
Shareholders Call Toll Free: 800-662-5200
Banks, Brokers, Trustees, and Other Nominees Call Collect: 203-658-9400
About Lee Enterprises
Lee Enterprises is a major subscription and advertising platform and a leading provider of local news and information, with daily newspapers, rapidly growing digital products and over 350 weekly and specialty publications serving 77 markets in 26 states. Year to date, Lee’s newspapers have average circulation of 1.0 million, and our legacy website, including acquisitions, reach more than 47 million digital unique visitors. Lee’s markets include St. Louis, MO; Buffalo, NY; Omaha, NE; Richmond, VA; Lincoln, NE; Madison, WI; Davenport, IA; and Tucson, AZ. Lee Common Stock is traded on NASDAQ under the symbol LEE. For more information about Lee, please visit www.lee.net.
The information provided in this communication may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “aims,” “anticipates,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in report relating to the Company may be found in the Company’s periodic filings with the SEC, including the factors described in the sections entitled “Risk Factors,” copies of which may be obtained from the SEC’s website at www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this communication.
Jamie Tully/Jenny Gore
Sard Verbinnen & Co