JACKSON, Mich. & ST. LOUIS PARK, Minn.--(BUSINESS WIRE)--
Richmond Brothers, Inc., a Michigan-based SEC registered investment advisor and wealth management firm that is the largest beneficial owner of Rockwell Medical, Inc. (NASDAQ: RMTI) (“Rockwell” or the “Company”), and Mark H. Ravich, who together with their affiliates beneficially own over 6.1 million shares, or 11.8% of the Company’s outstanding common stock, today sent a letter to Rockwell shareholders urging them to vote for Mark H. Ravich for election to the Board at the upcoming annual meeting of shareholders. The full text of the letter follows:
May 12, 2017
Dear Fellow Shareholders,
As you know, we are currently fighting to put a stop to the chronic underperformance, poor communication, and egregious corporate governance that have characterized Rockwell Medical, Inc. (“Rockwell” or the “Company”) for years. We believe that Mark H. Ravich, our highly-qualified nominee, is well-equipped to deliver the change that Rockwell sorely needs.
Mark has the experience and ability that will make him an effective director at Rockwell – including experience as a CEO of a NASDAQ-traded company, experience serving on the Boards of several companies, and nearly three decades of successful investing in medical device companies. We urge you to vote for Mark to install a true representative of ALL shareholders in the Boardroom so that your best interests are protected.
As you consider your vote at the upcoming 2017 Annual Meeting of Shareholders, we ask you to keep in mind the following points. We believe that these points lead to only one conclusion – shareholders should vote on the BLUE proxy card for the election of Mark H. Ravich to the Board.
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Rockwell’s Board Desperately Needs a Change Agent |
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Rockwell Has Stagnated |
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Shareholders Have Suffered |
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Management is Opaque and Tone-Deaf |
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1 Calculated as of February 20, 2017, the day prior to Richmond Brothers’ public involvement at Rockwell. |
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Mark H. Ravich Is the Right Choice for the Board |
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Ravich Has what it Takes and Will Bring the Outsider Perspective that Is Sorely Needed |
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Ravich will Push for True Oversight of Management |
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Ravich Is Personally Invested in Rockwell and Is Aligned with Shareholders |
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Tell Rockwell It’s Time to Rein in Excessive Executive Compensation |
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Rockwell’s Executives – Especially Robert Chioini – Have Gained While Shareholders Have Lost |
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Tell Rockwell You Are Outraged at the Continued Lack of Regard for Shareholders’ Concerns |
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Show Rockwell that You Will not Accept Meaningless Performance Standards |
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2 According to ISS reports from Rockwell’s past two annual meetings. |
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SHAREHOLDERS HAVE WAITED MORE THAN THREE YEARS FOR THE LAUNCH OF CALCITRIOL AND MORE THAN TWO YEARS FOR THE LAUNCH OF TRIFERIC, PLUS ROCKWELL IS INVOLVED IN A LAWSUIT WITH BAXTER OVER ITS CORE DIALYSATE BUSINESS.
TELL ROCKWELL THAT ENOUGH IS ENOUGH
VOTE THE BLUE PROXY CARD TO ELECT MARK H. RAVICH TODAY
If you have any questions, or require assistance with your vote, please contact Saratoga Proxy Consulting LLC, toll- free at (888) 368-0379, call direct at (212) 257-1311 or email: [email protected]
For more information – including a presentation we recently issued detailing the case for change at Rockwell – and to see other communications and filings from Richmond Brothers and Mark H. Ravich, visit this link: http://www.richmondbrothers.com/time-for-action-at-rmti.
About Richmond Brothers, Inc.
Richmond Brothers, Inc. is an SEC registered investment advisor and wealth management firm founded in 1994.
About Mark H. Ravich
Mark H. Ravich is a private investor and currently serves as President of Tri-Star Management, Inc., a commercial real estate management and syndication company that he co-founded in 1998.
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