Ader Group Sets Record Straight For IGT Shareholders
Shareholders Are Encouraged to Consider the Issues Carefully and Promptly Vote
the GOLD Proxy Card
NEW YORK, Feb. 12, 2013
NEW YORK, Feb. 12, 2013 /PRNewswire/ -- The Ader Group today issued an open
letter to International Game Technology shareholders.
The letter raises a number of points, including:
oHighlighting the significant differences in the respective views of IGT's
oThe Ader Group's goal of instituting a culture of ownership in the IGT
oIGT's poor stock price performance over a period of more than three years;
oThe recent customer and investor comments which have been supportive of
the Ader Group's efforts; and
oThe need to add relevant casino gaming industry and financial markets
experience to the IGT board.
The Ader Group is urging shareholders to vote the GOLD proxy card to elect its
three highly-qualified, forward-looking nominees, Raymond J. Brooks, Jr.,
Charles N. Mathewson and Daniel B. Silvers, at IGT's upcoming annual meeting
scheduled for March 5, 2013.
The letter is available by visiting
(on the "Filings & Presentations" page).
About Ader Investment Management LP
Ader Investment Management LP is a Delaware limited partnership that was
founded in 2003. Ader Investment Management LP is an SEC-registered
investment adviser with its principal place of business located in New York,
New York. Ader Investment Management LP began conducting business in 2003,
under the name of Hayground Cove Associates LP. In June 2011, Hayground Cove
Associates LP changed its name to Ader Investment Management LP. Mr. Jason
Ader is the sole principal of the firm, and is also the managing member and
sole principal of the firm's general partner, Ader Fund Management LLC.
The principal investment advisory business of Ader Investment Management LP is
the management of investment portfolios consisting primarily of equity
securities on behalf of certain private funds and separately managed accounts.
The Ader Group (whose members are identified below) has nominated Raymond J.
Brooks, Jr., Charles N. Mathewson and Daniel B. Silvers (the "Ader Nominees")
as nominees to the board of directors of International Game Technology (the
"Company") and is soliciting votes for the election of the Ader Nominees as
members of the board. The Ader Group has sent a definitive proxy statement,
GOLD proxy card and related proxy materials to stockholders of the Company
seeking their support of the Ader Nominees at the Company's 2013 Annual
Meeting of Stockholders. Stockholders are urged to read the definitive proxy
statement and GOLD proxy card because they contain important information about
the Ader Group, the Ader Nominees, the Company and related matters.
Stockholders may obtain a free copy of the definitive proxy statement and GOLD
proxy card and other documents filed by the Ader Group with the Securities and
Exchange Commission ("SEC") at the SEC's web site at www.sec.gov. The
definitive proxy statement and other related documents filed by the Ader Group
with the SEC may also be obtained free of charge from the Ader Group.
The Ader Group consists of the following persons: Ader Investment Management
LP, Ader Long/Short Fund LP, Doha Partners I LP, Ader Fund Management LLC,
Ader Investment Management LLC, Jason N. Ader, Daniel B. Silvers, Andrew P.
Nelson and Laura T. Conover-Ferchak. The members of the Ader Group and the
Ader Nominees are participants in the solicitation from the Company's
stockholders of proxies in favor of the Ader Nominees. Such participants may
have interests in the solicitation, including as a result of holding shares of
the Company's common stock. Information regarding the participants and their
interests may be found in the definitive proxy statement of the Ader Group,
filed with the SEC on January 25, 2013 and first disseminated to stockholders
on or about January 28, 2013.
Certain information contained herein constitutes "forward-looking statements,"
which can be identified by the use of forward-looking terminology such as
"may," "will," "seek," "should," "expect," "anticipate," "project,"
"estimate," "intend," "continue" or "believe" or the negatives thereof or
other variations thereon or comparable terminology. Such statements are not
guarantees of future performance or activities. Due to various risks and
uncertainties, actual events or results or actual performance may differ
materially from those reflected or contemplated in such forward-looking
SOURCE Ader Group
Contact: Jason N. Ader, +1-212-445-7800, Ader Investment Management LP; or
Jennifer Shotwell, Scott Winter or Jonathan Salzberger, +1-212-750-5833, all
of Innisfree M&A Incorporated; or Rob Ford, Rford@5wpr.com, +1-212-999-5585
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