Concerned ALCO Stockholders Announces Intent to Solicit Proxies at ALCO
Stores’ Annual Meeting
NEW YORK -- February 18, 2014
Concerned ALCO Stockholders (“Concerned ALCO Stockholders”, “CAS” or “we”), a
group led by David Pointer and Dilip Singh, announced today that it intends to
mail its own proxy statement to stockholders of ALCO Stores, Inc.
(Nasdaq:ALCS) (“ALCO”) for the purpose of giving ALCO stockholders the
opportunity to vote for new Board members at the ALCO 2014 Annual Meeting of
CAS is a group dedicated to maximizing stockholder value and improving
corporate governance at ALCO. CAS member David Pointer said, “While we
strongly support CEO Richard Wilson and the new team that he has assembled in
Coppell, Texas, we also believe that certain members of the current Board of
Directors may not be the right people to represent stockholder interests going
forward. For this reason, we intend to mail out our own proxy statement ahead
of the 2014 Annual Meeting of Stockholders.”
Concerned ALCO Stockholders believes that stockholders should have the
opportunity to consider voting for new Board members, instead of simply
re-electing existing incumbent members of the Board of Directors. CAS’ proxy
statement will explain the strengths of each of its nominees, and each
stockholder will get the opportunity to decide which of the CAS nominees to
vote for, and which of the incumbent nominees to vote for.
Concerned ALCO Stockholders is not currently soliciting votes at this time,
and is only providing information concerning its concerns and intentions.
David Pointer is a fund manager and stockholder of ALCO.Dilip Singh is an
experienced public company board member who has created wealth for
stockholders across a number of industries.
John Glenn Grau, 203-972-9300 ext. 11
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