Rocky Mountain Chocolate Factory Announces Agreement with Global Value Investment Corp.
DURANGO, CO / ACCESSWIRE / August 12, 2021 / Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) (the "Company" or "RMCF"), a global confectionary manufacturer, international franchisor and retail operator delighting consumers through a premium offering of gourmet chocolate, confection and self-serve frozen yogurt, today announced that it has reached a cooperation agreement with Global Value Investment Corp.
"RMCF greatly values the input and perspective of all our shareholders and, as part of this ongoing engagement, we are delighted to welcome Jeff Geygan, a representative of one of our largest shareholders, to our Board of Directors," said Rahul Mewawalla, Chairperson of the RMCF Board of Directors. "This agreement reflects our commitment to have a Board with diverse experience, expertise and perspective that is best positioned to maximize shareholder value and support RMCF through its next exciting chapter of growth. We look forward to continuing to strengthen RMCF and enhancing value for all our stakeholders, including our franchisees, employees and customers."
Under the terms of the agreement, Jeffrey R. Geygan, CEO and President of Global Value Investment Corp., was appointed to the RMCF Board of Directors to fill the current vacancy on the Board, effective immediately. In addition, Global Value Investment Corp. has agreed to customary standstill, voting and other provisions with RMCF.
These actions build on RMCF's commitment to best-in-class corporate governance and the addition of robust strategic, operational and transformational expertise to its Board. In addition to the recent election of independent director Rahul Mewawalla as Chairperson, the Board further commits to additional Board refreshment in the second half of 2021.
Mr. Geygan added: "I appreciate RMCF's engagement with shareholders and applaud the Company's commitment to deliver superior value to shareholders. I support the corporate governance and executive management changes RMCF's Board is pursuing and I look forward to joining the Board and working with Rahul Mewawalla and other RMCF Board members. I, like the Board of RMCF, see significant long-term value creation opportunities for RMCF and look forward to supporting the Company through this next stage of growth."
The complete agreement will be filed on Form 8-K filed with the Securities and Exchange Commission.
SOURCE Rocky Mountain Chocolate Factory, Inc.
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