Matthews Highlights Significant Shareholder Support and Underscores Board’s Commitment to Long-Term Value Creation

Core Viewpoint - Matthews International Corporation emphasizes the importance of shareholder support for its director nominees and highlights the potential risks associated with the opposing nominees from Barington, asserting that their understanding of Matthews' business is inadequate [2][3][5]. Group 1: Shareholder Support and Board Composition - GAMCO Asset Management, a significant shareholder with approximately 4.38% stake, has endorsed Matthews' director nominees, indicating confidence in the current board's ability to create long-term shareholder value [4]. - Matthews' board nominees, including Terry L. Dunlap, Alvaro Garcia-Tunon, and J. Michael Nauman, are presented as having the necessary experience and skills to guide the company's strategic direction effectively [17][18]. Group 2: Critique of Barington's Nominees - Barington's nominees are criticized for lacking relevant experience and understanding of Matthews' business, with specific examples highlighting their past failures and lack of preparedness during interactions with Matthews [12][13][14][15][16]. - The letter argues that Barington's simplistic view of Matthews' business could lead to detrimental decisions that would harm shareholder value [11]. Group 3: Business Overview and Strategy - Matthews International has a long history of evolving through innovation and investment, focusing on memorialization products, industrial technologies, and brand solutions [2][20]. - The company has successfully built a leading position in the memorialization segment, generating predictable free cash flow that supports dividends and reinvestment in high-growth areas [8][10].