Crescendo Partners

CALGARY, ALBERTA--(Marketwire - June 10, 2009) - The Forzani Group Ltd. (TSX: FGL) ("FGL" or the "Company") today announced that its shareholders have elected all eight FGL nominees for the Board of Directors despite a proxy contest initiated by dissident New York hedge fund Crescendo Partners. "We thank our shareholders for their support in this vote and throughout the proxy contest," said John Forzani, FGL's Chairman. "The vote today demonstrates the confidence that FGL shareholders have in our Board, our governance, our strategy and our performance." "Looking ahead, FGL's Board and management will continue to focus on executing on the plan outlined at the Company's Investor Day presentation in April, in order to create value for all shareholders through profitable growth." "We welcome Don Gass to the Board as a new independent director," said Mr. Forzani. "Mr. Gass will be a member of the Audit Committee where he will replace Bill Grace, who ...

CALGARY, ALBERTA--(Marketwire - June 3, 2009) - The Forzani Group Ltd. (TSX: FGL) ("FGL" or the "Company") today announced that it is mailing a letter to shareholders. The letter provides an update on the support that FGL has received for all eight of its nominees for the Board of Directors and summarizes the reasons why shareholders should vote the WHITE proxy in favour of the FGL nominees. The election takes place on June 10, 2009 at the FGL annual meeting. The New York hedge fund Crescendo Partners opposes two of the eight FGL nominees. "Crescendo has not made a compelling case for change that would benefit FGL or its shareholders," said FGL Chairman John Forzani. "FGL has a strong Board, good corporate governance, a clear and compelling strategy, a track record of results and superior Board nominees who are not beholden to any one shareholder and will act in the best interests ...

CALGARY, ALBERTA--(Marketwire - May 27, 2009) - The Forzani Group Ltd. (TSX: FGL) ("FGL" or the "Company") announced today that Glass Lewis & Co., an independent proxy advisor, has recommended to its institutional clients that they vote the WHITE proxy FOR all eight of FGL's nominees for the Board of Directors. In addition, FGL welcomed the recent disclosure by FGL's largest shareholder, Letko, Brosseau & Associates, that it intends to support all eight FGL nominees. Letko, Brosseau, a significant shareholder since 2004, currently exercises control or direction over portfolios that hold 4,846,135 shares of FGL, equivalent to approximately 15.9% of the shares outstanding. With regard to Glass Lewis, the proxy advisor stated, "We see no reason to believe that the dissident nominees are better suited to execute the Company's strategic plan." Glass Lewis concluded, "We believe the dissident has failed to make a compelling case against the Company's current Board and management." "We ...

LAVAL, QUEBEC--(Marketwire - May 25, 2009) - The Forzani Group Ltd. (TSX:FGL) ("FGL") Recently Crescendo Partners, a shareholder of The Forzani Group Ltd. ("FGL") launched a bid for seats on the FGL Board of Directors. As part of this bid, Crescendo has nominated an alternative slate of directors that excludes the Quebec representative on the Board, Mr. Henri Drouin. Quebec represents almost one-third of ...

CALGARY, ALBERTA--(Marketwire - May 20, 2009) - The Forzani Group Ltd. (TSX: FGL) today announced that it is mailing to shareholders a letter and accompanying WHITE proxy. The letter is from Chairman John Forzani. It responds to a dissident proxy circular issued by the New York hedge fund Crescendo Partners, which opposes two Forzani nominees for election to the board of directors at the June 10, 2009 annual meeting. In the letter, Mr. Forzani provides a number of reasons why shareholders should vote the WHITE proxy for all eight of the company's nominees, as set out in the Management Proxy Circular available on SEDAR at www.sedar.com and on the corporate website at www.forzanigroup.com. Among other reasons, Mr. Forzani states that the company has a strong board of directors, good corporate governance, a clear and focused strategy, and a track record of success. Mr. Forzani adds that Crescendo has put forward two nominees ...