Rentech Inc., a wood-pellet processor with interests in fertilizer manufacturing, shouldn’t start big projects, pursue acquisitions, sell shares or add new directors before its next annual meeting, a group of activist shareholders said.
The group, calling itself Concerned Rentech Shareholders, is urging the Los Angeles-based company’s board to refrain from any activities that may “further devalue” it, according to a letter to the board made public today. The group, which has said it holds a 4.6 percent stake in Rentech’s outstanding shares, nominated four board candidates for election at the next meeting.
