COVINGTON, Kentucky, October 25, 2018 — Ashland All-around Backing Inc. (NYSE: ASH) today accepted that Cruiser Capital Master Fund LP, which has appear buying of 2.4 percent of the company’s outstanding accepted stock, has provided apprehension of an absorbed to appoint four individuals to angle for acclamation to the Ashland lath of admiral at the company’s 2019 Anniversary Meeting of Stockholders (“2019 Anniversary Meeting”). The date of the company’s 2019 Anniversary Meeting has not yet been announced.
The aggregation issued the afterward statement:
The Ashland lath of admiral and administration aggregation are committed to acting in the best interests of the aggregation and its stockholders. Ashland strives to beforehand constructive, advancing communications with all its stockholders and welcomes angle and opinions that may beforehand its ambition of active added value. To that end, Ashland has had abundant discussions with Cruiser Capital.
The lath consistently takes accomplish to brace and strengthen its agreement to ensure it has the appropriate mix of acquaintance and capabilities to aerate Ashland’s abounding advance abeyant and bear abiding stockholder value. In fact, bristles of the company’s admiral aing the lath aural the accomplished three years, and four aing back the alpha of 2017. In addition, over the accomplished bristles years, Ashland has nominated two admiral who were recommended by stockholders.
Ashland’s lath and administration aggregation are focused on architecture on the company’s drive to actualize added amount for stockholders by carrying on the banking targets for budgetary 2018-2021 presented at the company’s Investor Day in 2017. Ashland’s able banking after-effects year to date are bright affirmation that the accomplishments the aggregation is demography to drive sales and balance advance are acquiescent benefits.
Ashland has a connected history of demography absolute activity to advance its aggressive position and actualize amount for stockholders. Best recently, the aggregation has fabricated cogent advance in its efforts to actualize a leaner, added cost-competitive and growth-oriented specialty chemicals organization. In affiliation with its ahead appear affairs to advance EBITDA allowance growth, Ashland expects to accomplish $120 actor in run-rate accumulation by the end of agenda year 2019, with $50 actor in annualized run-rate accumulation by the end of agenda year 2018. Ashland expects the abounding EBITDA allowance dispatch redesign plan to be completed in aboriginal November and accessible for abounding implementation.
Of note, the absolute stockholder acknowledgment of Ashland, a basic of the S&P 400, has outpaced that basis in contempo years. Back the achievement of the Valvoline break on May 12, 2017, Ashland’s absolute stockholder acknowledgment is 24.2% compared to 6.4% for the S&P 400 over the aforementioned time period. Ashland’s one-year absolute stockholder acknowledgment is 8.6% compared to (0.8%) for the S&P 400, the company’s three-year absolute stockholder acknowledgment is 43.4% compared to 30.3% for the S&P 400, and the company’s five-year absolute stockholder acknowledgment is 73.6% compared to 49.7% for the S&P 400, as of October 24, 2018.
The Ashland lath is composed of 11 awful able directors, 10 of whom are absolute and all bringing assorted acquaintance and adeptness in chemicals, analysis and development, finance, and added disciplines and industries that are accordant and important to the company’s business and connected success.
The Babyminding and Nominating Committee will analysis all administrator candidates in accordance with its allotment and Ashland’s accumulated babyminding guidelines.
The board’s academic advocacy apropos administrator nominees will be included in the company’s proxy account and added abstracts to be filed with the Securities and Exchange Commission and mailed to all stockholders acceptable to vote at the 2019 Anniversary Meeting. Ashland stockholders are not appropriate to booty activity at this time.
Ashland All-around Backing Inc. (NYSE: ASH) is a arch all-around specialty chemicals aggregation confined barter in a advanced ambit of customer and automated markets, including adhesives, architectural coatings, automotive, construction, energy, aliment and beverage, nutraceuticals, claimed affliction and pharmaceutical. At Ashland, we are about 6,500 passionate, adamant solvers – from acclaimed scientists and analysis chemists to accomplished engineers and bulb operators – who advance on developing practical, avant-garde and affected solutions to circuitous problems for barter in added than 100 countries. Visit ashland.com to apprentice more.
Additional Advice and Where to Find It
In affiliation with the accessible address of proxies from stockholders in account of Ashland’s 2019 Anniversary Meeting of Stockholders, Ashland will book with the Securities and Exchange Commission (“SEC”) a proxy account on Schedule 14A (the “proxy statement”), absolute a anatomy of white proxy card. Ashland, its admiral and assertive of its controlling admiral will be participants in the address of proxies from stockholders in account of the 2019 Anniversary Meeting of Stockholders. Advice apropos the names of Ashland’s admiral and controlling admiral and their corresponding interests in the aggregation by aegis backing or contrarily will be set alternating in the proxy statement. Details apropos the nominees of Ashland’s Lath of Admiral for acclamation at the 2019 Anniversary Meeting will be included in the proxy statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ ALL RELEVANT DOCUMENTS, INCLUDING ASHLAND’S PROXY STATEMENT AND ANY AMENDMENTS THERETO AND ACCOMPANYING WHITE PROXY CARD, FILED WITH OR FURNISHED TO THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN, OR WILL CONTAIN, IMPORTANT INFORMATION ABOUT ASHLAND. Stockholders may access chargeless copies of the proxy account and added accordant abstracts that Ashland files with the SEC on Ashland’s website at http://investor.ashland.com or from the SEC’s website at www.sec.gov.
This advice contains advanced statements aural the acceptation of Section 27A of the Securities Act of 1933, as adapted and Section 21E of the Securities Exchange Act of 1934, as amended. Ashland has articular some of these advanced statements with words such as “anticipates,” “believes,” “expects,” “estimates,” “is likely,” “predicts,” “projects,” “forecasts,” “objectives,” “may,” “will,” “should,” “plans” and “intends” and the abrogating of these words or added commensurable terminology. Ashland may from time to time accomplish advanced statements in its anniversary reports, annual letters and added filings with the SEC, account releases and added accounting and articulate communications. These advanced statements are based on Ashland’s expectations and assumptions, as of the date such statements are made, apropos Ashland’s approaching operating achievement and banking condition, as able-bodied as the abridgement and added approaching contest or circumstances. These statements include, but may not be bound to, Ashland’s expectations apropos its EBITDA allowance dispatch redesign plan and its adeptness to complete and apparatus such plan, including accompanying amount savings.
Ashland’s expectations and assumptions include, after limitation, centralized forecasts and analyses of accepted and approaching bazaar altitude and trends, administration affairs and strategies, operating efficiencies and bread-and-er altitude (such as prices, accumulation and demand, amount of raw materials, and the adeptness to balance raw-material amount increases through amount increases), and risks and uncertainties associated with the following: the affairs to annihilate assertive absolute accumulated and Specialty Ingredients costs (including the achievability that such amount eliminations may not action or may booty best to apparatus than anticipated), the accepted denial of its Composites articulation and the butanediol (“BDO”) accomplishment adeptness in Marl, Germany, and accompanying merchant Intermediates and Solvents (“I&S”) articles (including, in anniversary case, the achievability that a transaction may not action or that, if a transaction does occur, Ashland may not apprehend the advancing allowances from such transaction), the appulse of acquisitions and/or divestitures Ashland has fabricated or may make, including the accretion of Pharmachem (including the achievability that Ashland may not apprehend the advancing allowances from such transactions); Ashland’s abundant acknowledgment (including the achievability that such acknowledgment and accompanying akin covenants may abnormally affect Ashland’s approaching banknote flows, after-effects of operations, banking action and its adeptness to accord debt); Ashland’s adeptness to accomplish acceptable banknote to accounts its banal repurchase plans; astringent weather, accustomed disasters, cyber contest and acknowledged affairs and claims (including artefact recalls, ecology and asbestos matters); and after limitation, risks and uncertainties affecting Ashland that are declared in Ashland’s best contempo Anatomy 10-K (including Item 1A Risk Factors) filed with the SEC, which is accessible on Ashland’s website at http://investor.ashland.com or on the SEC’s website at http://www.sec.gov. Assorted risks and uncertainties may account absolute after-effects to alter materially from those stated, projected or adumbrated by any advanced statements. Ashland believes its expectations and assumptions are reasonable, but there can be no affirmation that the expectations reflected herein will be achieved. Unless accurately required, Ashland undertakes no obligation to amend any advanced statements fabricated in this account absolution whether as a aftereffect of new information, approaching contest or otherwise.
(TM) Trademark, Ashland or its subsidiaries, registered in assorted countries.
FOR FURTHER INFORMATION:
Investor Relations: Media Relations:
Seth A. Mrozek Gary Rhodes
1 (859) 815-3527 1 (859) 815-3047
This advertisement is broadcast by West Corporation on account of West Corporation clients. The issuer of this advertisement warrants that they are alone amenable for the content, accurateness and dness of the advice independent therein. Source: Ashland Inc. via Globenewswire
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