Primo Water Responds to Legion Partners
29 Octubre 2019 - 4:22PM
Primo Water Corporation (Nasdaq: PRMW) (“Primo Water”) provided the
following statement today in response to comments from one of its
shareholders, Legion Partners Asset Management, LLC (“Legion”):
“Over the last year
and a half, we have proactively engaged with Legion in meetings,
discussions and correspondence regarding Primo Water’s Board
composition, governance enhancements, and business performance.
Most recently, we have asked Legion and our other large
shareholders for substantive feedback and input on our Board and on
skills or experience that may be enhanced or complemented through
the addition of new directors. Several of our shareholders
have already provided us with constructive feedback on these
matters. Legion has yet to do so, but we continue to welcome
Legion’s input.”
About Primo Water Corporation
Primo Water Corporation (Nasdaq: PRMW) is an
environmentally and ethically responsible company with a purpose of
inspiring healthier lives through better water. Primo is North
America's leading single source provider of water dispensers,
multi-gallon purified bottled water, and self-service refill
drinking water. Primo’s Dispensers, Exchange and Refill
products are available in over 45,000 retail locations and online
throughout the United States and Canada. For more information and
to learn more about Primo Water, please visit our website at
www.primowater.com.
Forward-Looking Statements
Certain statements contained herein are not
based on historical fact and are "forward-looking statements"
within the meaning of the applicable securities laws and
regulations. These statements include those related to our
expectation that the search for our new permanent CEO will be
concluded relatively quickly; our significant opportunity to build
value for shareholders by focusing on the consumer’s growing desire
for clean water and environmentally responsible products; our focus
on continuing to grow our Exchange and Dispenser businesses,
improving our Refill business and driving operational execution and
organizational development while positioning Primo Water to achieve
long-term profitable growth and improved value for shareholders;
and our 2019 fiscal year revenue and adjusted EBITDA financial
guidance. These statements can otherwise be identified by the use
of words such as "anticipate," "believe," "could," "estimate,"
"expect," "feel," "forecast," "intend," "may," "plan," "potential,"
“predict,” "project," “seek,” "should," "would,” “will,” and
similar expressions intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Owing to the uncertainties inherent in
forward-looking statements, actual results could differ materially
from those stated herein. Factors that could cause actual results
to differ materially from those in the forward-looking statements
include the risks described more fully in the Company's filings
with the Securities and Exchange Commission, including its Annual
Report on Form 10-K filed on March 6, 2019 and its subsequent
filings under the Securities Exchange Act of 1934. Forward-looking
statements reflect our analysis as of the date of this press
release. The Company does not undertake to revise these statements
to reflect subsequent developments, other than as required by
applicable securities laws.
Contact:Primo Water CorporationDavid Mills,
Chief Financial Officer(336) 331-4000
ICR Inc.Katie Turner(646) 277-1228
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