NEW
YORK, Dec. 3, 2024 /PRNewswire/ -- Stilwell
Activist Investments, L.P. (together with its affiliates,
"Stilwell"), one of the largest stockholders of IF Bancorp, Inc.
("IROQ" or the "Company") (NASDAQ: IROQ), today issued the
following statement in connection with the Company's 2024 Annual
Meeting of Stockholders:
At last week's Annual Meeting, stockholders approved our
Proposal by a 3:2 margin calling for a prompt sale of IF Bancorp,
Inc. Although the Proposal is non-binding, IROQ's stockholders
agree that the Company should be sold promptly. We urge IROQ's
Board of Directors to act now.
If the stockholder-approved Proposal does not lead to the
Company's prompt sale, we intend to seek board representation at
IROQ's 2025 annual meeting of stockholders.
The Proposal is copied directly below:
Proposal: RESOLVED, that the stockholders
of IF Bancorp, Inc. (the "Company" or "IROQ") hereby recommend that
the Board of Directors take all necessary steps to promptly
effectuate a sale of the Company.
As set forth in our Supporting Statement included in IROQ's
proxy statement filed with the Securities and Exchange Commission
on October 16, 2024, we believe that
the returns on the Company's assets have been subpar for many years
and that IROQ stockholders would be best served if the Company and
its assets were sold at the earliest opportunity for the highest
price available. The Proposal was submitted pursuant to Rule 14a-8
of the Securities Exchange Act of 1934, as amended.
Visit the following link to view the Company's Annual Meeting
vote results:
Investor Contact:
Megan
Parisi
(787) 985-2194
mparisi@stilwellgroup.com
The views and opinions expressed herein are the views and
opinions of the author and do not necessarily reflect those of
Nasdaq, Inc.
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content:https://www.prnewswire.com/news-releases/stockholders-approve-stilwells-proposal-to-sell-if-bancorp-302321427.html
SOURCE The Stilwell Group
