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180 Degree Capital Corp. acknowledges the inclusion of Matthew F. McLaughlin as a nominee for the Board of Directors of comScore, Inc. The company withdrew its own nomination of Mr. McLaughlin and proposal to declassify SCOR's Board of Directors. The CEO commends SCOR's Board for avoiding a proxy contest and believes Matt will enhance value creation. Despite business improvements, SCOR's stock price has decreased by 75% since March 2021. 180 Degree Capital urges immediate actions to address value impediments, including capital structure and data license contract with Charter Communications.
180 Degree Capital Corp. riconosce l'inclusione di Matthew F. McLaughlin come candidato per il Consiglio di Amministrazione di comScore, Inc. La società ha ritirato la propria nomina del Sig. McLaughlin e la proposta di declassificare il Consiglio di Amministrazione di SCOR. L'amministratore delegato elogia il Consiglio di SCOR per aver evitato una contesa per procura e ritiene che Matt contribuirà alla creazione di valore. Nonostante i miglioramenti aziendali, il prezzo delle azioni di SCOR è diminuito del 75% da marzo 2021. 180 Degree Capital sollecita azioni immediate per affrontare gli ostacoli al valore, inclusa la struttura del capitale e il contratto di licenza dei dati con Charter Communications.
180 Degree Capital Corp. reconoce la inclusión de Matthew F. McLaughlin como nominado para el Consejo de Administración de comScore, Inc. La compañía retiró su propia nominación del Sr. McLaughlin y la propuesta para desclasificar la Junta Directiva de SCOR. El CEO felicita a la Junta de SCOR por evitar una contienda de poderes y cree que Matt potenciará la creación de valor. A pesar de las mejoras empresariales, el precio de la acción de SCOR ha disminuido un 75% desde marzo de 2021. 180 Degree Capital insta a acciones inmediatas para abordar los impedimentos de valor, incluyendo la estructura de capital y el contrato de licencia de datos con Charter Communications.
180 Degree Capital Corp.는 Matthew F. McLaughlin이 comScore, Inc. 이사회 후보로 포함된 것을 인정합니다. 회사는 McLaughlin 씨의 자체 후보 지명과 SCOR 이사회의 등급 분류 해제 제안을 철회했습니다. CEO는 대리인 대결을 피한 SCOR 이사회를 칭찬하며 Matt가 가치 창출에 기여할 것이라고 믿습니다. 비즈니스 개선에도 불구하고 SCOR의 주가는 2021년 3월 이후 75% 감소했습니다. 180 Degree Capital은 자본 구조와 Charter Communications와의 데이터 라이선스 계약을 포함한 가치 장애물을 즉시 해결하기 위한 조치를 촉구합니다.
180 Degree Capital Corp. reconnaît l'inclusion de Matthew F. McLaughlin comme nominé au Conseil d'Administration de comScore, Inc. L'entreprise a retiré sa propre nomination de M. McLaughlin et sa proposition de déclassifier le Conseil d'Administration de SCOR. Le PDG félicite le Conseil de SCOR pour avoir évité un conflit de procuration et croit que Matt améliorera la création de valeur. Malgré les améliorations des affaires, le prix de l'action de SCOR a chuté de 75% depuis mars 2021. 180 Degree Capital exige des actions immédiates pour adresser les entraves à la valeur, y compris la structure du capital et le contrat de licence de données avec Charter Communications.
180 Degree Capital Corp. bestätigt die Nominierung von Matthew F. McLaughlin als Kandidaten für den Verwaltungsrat von comScore, Inc. Das Unternehmen hat seine eigene Nominierung von Herrn McLaughlin sowie den Vorschlag zur Entklassifizierung des SCOR Verwaltungsrates zurückgezogen. Der CEO lobt den SCOR Verwaltungsrat dafür, einen Proxy-Wettbewerb vermieden zu haben, und glaubt, dass Matt die Wertschöpfung steigern wird. Trotz geschäftlicher Verbesserungen ist der Aktienkurs von SCOR seit März 2021 um 75% gesunken. 180 Degree Capital fordert sofortige Maßnahmen, um Wertbehinderungen anzugehen, einschließlich der Kapitalstruktur und des Datenlizenzvertrags mit Charter Communications.
Positive
Matthew F. McLaughlin nominated for SCOR's Board of Directors
180 Degree Capital withdrew its nomination of Mr. McLaughlin and proposal to declassify SCOR's Board
SCOR's stock price down 75% since March 2021 despite business improvements
Urgent actions needed to address value impediments including capital structure and data license contract with Charter Communications
Negative
None.
MONTCLAIR, N.J., April 18, 2024 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ: TURN) (“180 Degree Capital”) today noted the filing of a proxy statement by comScore, Inc. (“SCOR”) that includes Matthew F. McLaughlin as a nominee for election to SCOR’s Board of Directors at its upcoming 2024 Annual Meeting of Stockholders (the “Annual Meeting”). In conjunction with this filing, 180 Degree Capital formally withdrew its nomination of Mr. McLaughlin as well as its proposal to declassify SCOR’s Board of Directors.
“Once again, we commend SCOR’s Board for reaching this conclusion and avoiding the need for a competitive proxy contest,” said Kevin M. Rendino, Chief Executive Officer of 180 Degree Capital. “We believe Matt will have a meaningful impact on value creation for all stakeholders at SCOR. We encourage SCOR to find ways to allow Matt to start making an impact even before the Annual Meeting as there are no shortage of areas where we think he can provide immediate value. Since the current capital structure was put in place in March 2021, and despite meaningful improvements in the business, SCOR’s stock price is down 75%. We ask the Board, as mentioned in our prior release and past letters, to immediately take actions to address these outstanding impediments to value creation including SCOR’s capital structure, the company’s data license contract with its preferred stockholder, Charter Communications, and supporting management’s efforts to run SCOR’s business in a more efficient, profitable manner than it has in its history. The time for action is now.”
“We would also like to extend our appreciation to Matt for his interest in working with us on this effort to seek change in SCOR’s corporate governance,” added Daniel B. Wolfe, President of 180 Degree Capital. “With this filing by SCOR, we have now disbanded our “group” for reporting purposes and look forward to interacting with Matt in his role as a member of SCOR’s Board in addition to our status as fellow stockholders of SCOR.”
About 180 Degree Capital Corp.
180 Degree Capital Corp. (“180 Degree Capital”) is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 Degree Capital and its holdings can be found on its website at www.180degreecapital.com.
Press Contacts:
Daniel B. Wolfe Robert E. Bigelow 180 Degree Capital Corp. 973-746-4500 ir@180degreecapital.com
This press release and the attached letter may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect 180 Degree Capital’s current beliefs, are based upon public information provided in many cases by comScore, Inc. (the “Company”), and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see 180 Degree Capital’s and the Company's respective securities filings filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with each business and other significant factors that could affect actual results. Except as otherwise required by federal securities laws, 180 Degree Capital undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference and link to the website www.180degreecapital.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. 180 Degree Capital is not responsible for the contents of third-party websites.
FAQ
Who is nominated for the Board of Directors of comScore, Inc.?
Matthew F. McLaughlin is nominated for the Board of Directors of comScore, Inc.
What action did 180 Degree Capital Corp. take regarding the nomination of Matthew F. McLaughlin?
180 Degree Capital Corp. withdrew its own nomination of Mr. McLaughlin and proposal to declassify SCOR's Board of Directors.
How much has SCOR's stock price decreased since March 2021?
SCOR's stock price is down by 75% since March 2021 despite business improvements.
What actions does 180 Degree Capital urge SCOR's Board to take?
180 Degree Capital urges immediate actions to address value impediments including capital structure and data license contract with Charter Communications.
180 degree capital corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds, i.e., a 180-degree turn. detailed information about 180 can be found on our website at www.180degreecapital.com.
