Brief: Silver Ring Value Partners says On Sept 21, Delivered A Letter To The Board Of Directors Of Charles & Colvard Ltd

Charles & Colvard

22/09/2020 19:04

Sept 22 (Reuters) - Silver Ring Value Partners 
    * SILVER RING VALUE PARTNERS FUND, LP - ON SEPT 21, SILVER
RING
DELIVERED A LETTER TO THE BOARD OF DIRECTORS OF CHARLES &
COLVARD LTD
    * SILVER RING VALUE-REQUESTED THAT CHARLES & COLVARD DOES
NOT
CONSIDER PURSUING ANY ACQUISITIONS UNTIL IT BECOME SOLIDLY
PROFITABLE ON SUSTAINED BASIS
    * SILVER RING VALUE - REQUESTED THAT THE BOARD PURSUE AN
ACTIVE
SALE PROCESS TO SELL CHARLES & COLVARD  TO A STRATEGIC ACQUIRER
    * SILVER RING VALUE - REQUESTED THAT THE BOARD CREATE
SUBSTANTIAL
INCENTIVES FOR THE TOP MANAGEMENT TEAM OF CHARLES & COLVARD
    * SILVER RING VALUE - REQUESTED THAT CHARLES & COLVARD
RETURN
EXCESS CASH TO SHAREHOLDERS ONCE CHARLES & COLVARD IS SOLIDLY
PROFITABLE
    * SILVER RING VALUE - REQUESTED THAT NUMBER OF SEATS ON
CHARLES &
COLVARD'S BOARD BE EXPANDED FROM 5 TO 7
    * SILVER RING VALUE - REQUESTED THAT CHARLES' BOARD BE
EXPANDED
FROM 5 TO 7, GARY MISHURIS, PHILIP BUTLER BE NOMINATED TO OCCUPY
THE ADDITIONAL SEATS

Source text - https://bit.ly/2Enzoao
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