Rentech Responds to Press Release Issued by Engaged Capital and Lone Star Value Management
28 March 2014 - 6:40AM
Business Wire
Rentech, Inc. (NASDAQ: RTK) today issued the following statement
regarding the press release issued this morning by Engaged Capital,
LLC (“Engaged”) and Lone Star Value Management, LLC (“Lone
Star”).
Rentech has a long-standing strategic plan,
as discussed most recently during Rentech’s quarterly earnings call
on March 11, 2014, to create value for shareholders by executing on
opportunities in our wood fibre processing business for significant
revenue and EBITDA growth and strong shareholder returns. Our Board
of Directors and management team are focused on the successful
execution of that strategy. We are always open to constructive
input from our shareholders. We will carefully review the
presentation issued today by Engaged and Lone Star while we
continue to maintain an active dialogue with our shareholders.
About Rentech, Inc.
Rentech, Inc. (www.rentechinc.com) owns and operates wood fibre
processing and nitrogen fertilizer manufacturing businesses. The
wood fibre processing business consists of the provision of wood
chipping services and the manufacture and sale of wood chips,
through a wholly-owned subsidiary, Fulghum Fibres, Inc., and the
development of wood pellet production facilities. Rentech’s
nitrogen fertilizer business consists of the manufacture and sale
of nitrogen fertilizer through its publicly-traded subsidiary,
Rentech Nitrogen Partners, L.P. (NYSE: RNF).
Safe Harbor Statement
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995
about matters such as: the Company’s opportunities for future
growth and shareholder returns. These statements are based on
management’s current expectations and actual results may differ
materially as a result of various risks and uncertainties. Other
factors that could cause actual results to differ from those
reflected in the forward-looking statements are set forth in the
Company’s prior press releases and periodic public filings with the
Securities and Exchange Commission, which are available via
Rentech’s website at www.rentechinc.com. The forward-looking statements
in this press release are made as of the date of this press release
and Rentech does not undertake to revise or update these
forward-looking statements, except to the extent that it is
required to do so under applicable law.
Additional Information and Where You Can Find It
Rentech, its directors and certain of its executive officers may
be deemed to be participants in the solicitation of proxies from
shareholders in connection with its annual meeting of shareholders
to be held in 2014 (the “2014 Annual Meeting”). Rentech plans to
file a proxy statement and white proxy card with the SEC in
connection with the solicitation of proxies for the 2014 Annual
Meeting (the “2014 Proxy Statement”). Additional information
regarding the identity of these potential participants and their
direct or indirect interests, by security holdings or otherwise,
will be set forth in the 2014 Proxy Statement and other materials
to be filed with the SEC in connection with the 2014 Meeting. This
information can also be found in Rentech’s definitive proxy
statement for its annual meeting of shareholders held in 2013,
filed with the SEC on April 30, 2013 (the “2013 Proxy Statement”).
To the extent holdings of Rentech’s common stock have changed since
the amounts printed in the 2013 Proxy Statement, such changes have
been or will be reflected on Statements of Change in Ownership on
Form 4 filed with the SEC.
SHAREHOLDERS ARE URGED TO READ THE 2014 PROXY STATEMENT AND
WHITE PROXY CARD (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO),
2013 PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT RENTECH
HAS FILED OR WILL FILE WITH THE SEC BECAUSE THEY CONTAIN IMPORTANT
INFORMATION.
Shareholders will be able to obtain, free of charge, copies of
the 2014 Proxy Statement (when available), 2013 Proxy Statement and
any other documents filed or to be filed by Rentech with the SEC in
connection with the 2013 Meeting at the SEC’s website
(http://www.sec.gov).
Investors:Rentech, Inc.Julie Dawoodjee CafarellaVice President
of Investor Relations and
Communications310-571-9800ir@rentk.comorMacKenzie Partners,
Inc.Mark Harnett1-800-322-28851-212-929-5500 (collect)orMedia:Sard
Verbinnen & CoJohn Christiansen/Megan Bouchier415-618-8750
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