Core Points - Parthenon LLC, a significant shareholder in Jewett-Cameron Trading Company, is urging fellow shareholders to vote "WITHHOLD" for the re-election of all Board Directors due to poor business and stock performance [1][4] - The company reported its first annual operating loss in at least 25 years for Fiscal Year 2024, indicating a severe decline in profitability [2] - Despite management's claims of taking steps to improve performance, no Board Director has purchased shares in the company over the past year, raising concerns about their confidence in the company's future [3] Business Performance - Jewett-Cameron experienced a 15% decline in stock value in 2024 and a 40% decline over the past five years, highlighting a troubling trend in stock performance [3] - The Board has not explored strategic alternatives to enhance shareholder value, which is seen as a failure in their responsibilities [4] Shareholder Sentiment - Insiders own less than 1.3% of the outstanding stock, and all Board Director stock holdings were obtained through grants or options, indicating a lack of personal financial investment in the company [1][4] - The call for a "WITHHOLD" vote is framed as a necessary action for shareholders to express dissatisfaction with the Board's performance and commitment to maximizing shareholder value [1][4]
Parthenon LLC Sends Open Letter to Fellow Jewett-Cameron (NASDAQ: JCTC) Shareholders