write letter to BOD asking to nominate Stephen Chu to BOD requesting same things he has been proposing;
join Stephen CHU in continuing to vote NO NO NO NO and fight to win this and sending letters to BOD requesting same and also nominating him for a seat since the Proxy Voting does not put in new nominees that were sent out:
Excerpts from a Letter sent to BOD of BOX Ships:
June 15, 2017
Letter to Box Ships Board of Directors
Board of Directors
Box Ships – TEUFF
15 Karamanli Ave, GR 16673
Introductory Statement
Dear Board of Directors of TEUFF Box Ships :
Two times in the past six weeks, we have received the unwelcome news that TEUFF Box Ships Board and management have tampered with the upcoming shareholder vote in an effort to entrench themselves and in blatant disregard of their fundamental duties to shareholders:
• On May 31st the Company delayed the annual shareholders meeting to June 15, 2017 to solicit more votes in their favor designed to entrench the Board and management.
• On June 15, 2017 the Board postponed the Company’s Annual Meeting of Shareholders to June 23, 2017 date.
We can only assume that this postponement represents an attempt by the Company to buy itself additional time to solicit votes in their favor. The solicitation efforts appear to be in disarray.
This delay in the previously scheduled meeting has the effect of re-opening the advance notice window under the
company’s bylaws, thus allowing Mr. Stephen M. Chu to be nominated for voting to the BOD Director position and
his many requested proposals communicated to the BOX Ships Board of Directors in previous emails forwarded to
you the BOD thru Mike Mason especially and including anti-dilution proposal measures sought.
Unfortunately, an expression of the will of a majority of TEUFF Box Ships voting shareholders is exactly what this Board seems intensely focused on avoiding.
We believe the reason is obvious : Every single BOX SHIPS shareholder who has publicly expressed a voting preference has come out in favor of the Shareholder Nominee Stephen M. Chu to obtain a Board of Directors seat on BOX SHIPS. This wide consensus represents well over 12% of the Company’s stock and includes the Company’s single largest shareholder.
This Board apparently believes that real change is unwarranted. They have expressed that view with remarkable consistency since this contest began. They are stuck on the view destroying shareholder values is OK because they control the Board while lying to common shareholders that they are their number focus and priority.
Unbelievably, the Board continues to offer proposals to reverse split and dilute the common shareholders of Box Ships upon severe criticisms of the Company’s strategy, leadership, performance and it made sure to reaffirm the strategy thru the annual shareholders proposals that have been decidedly voted down.
Even the Board’s latest attempt to delay the annual shareholders meeting with insufficient change, and offers it only as a distraction as it seeks to buy time and postpone the verdict of shareholders. At the same time, its intense desire to maintain the status quo appears to have warped its perception of reality STOP the DILUTION and REVERSE SPLITS.
Proxy contests are expensive, time-consuming and exhausting. They are a last resort and never a preferred option. But sometimes they are necessary.
At this point, given where things stand, we have determined that the only realistic way to produce the kind of change BOX SHIPS needs is through the election of a new Board of Directors member Stephen M. Chu who has been a CFO for over 20 years including that of a Health Systems between $500 million to $ 1 billion in revenues - a highly qualified and Ethical Shareholder Nominee to BOX SHIP’s Board.
The Board clearly thinks little of the Company’s shareholders or their votes, but I do.
SEC rules Section 213 does not allow BOX SHIPS to postpone the annual shareholder meeting voting indefinitely and only upon allowed cause. Please respond to me to ensure that the common shareholders rights are not being violated again with this tainted annual shareholders meeting process today.
Sincerely,
