MIAMI--(BUSINESS WIRE)--ILG (Nasdaq: ILG) today issued the following statement in response to a public letter from FrontFour Capital Group LLC on March 15, 2018.
“The assertions in FrontFour’s letter are not accurate. While we do not think it is productive to engage back and forth with FrontFour through press releases, and we intend to avoid doing so in the future, we believe it is important to address the issues raised in FrontFour’s letter.
FrontFour has spoken to independent directors of ILG’s Board on several occasions, and if FrontFour wants additional discussions with independent members of our Board, we are happy to arrange them.
FrontFour has notified ILG of its intention to nominate four directors for election to the Board at ILG’s 2018 Annual Shareholder Meeting. The ILG Board would like to interview those candidates, but despite our repeated requests, FrontFour has refused to make them available. We encourage FrontFour to make their nominees available for interviews so we can act with full information when determining whether or not to recommend that any of them be added to the Board.
Finally, record dates for annual meetings are customarily set shortly before the definitive proxy statement is mailed to shareholders, and ILG intends to follow that customary practice.”
ILG (Nasdaq: ILG) is a leading provider of professionally delivered vacation experiences and the exclusive global licensee for the Hyatt®, Sheraton®, and Westin® brands in vacation ownership. The company offers its owners, members, and guests access to an array of benefits and services, as well as world-class destinations through its international portfolio of resorts and clubs. ILG’s operating businesses include Aqua-Aston Hospitality, Hyatt Vacation Ownership, Interval International, Trading Places International, Vacation Resorts International, VRI Europe, and Vistana Signature Experiences. Through its subsidiaries, ILG independently owns and manages the Hyatt Residence Club program and uses the Hyatt Vacation Ownership name and other Hyatt marks under license from affiliates of Hyatt Hotels Corporation. In addition, ILG’s Vistana Signature Experiences, Inc. is the exclusive provider of vacation ownership for the Sheraton and Westin brands and uses related trademarks under license from Starwood Hotels & Resorts Worldwide, LLC. Headquartered in Miami, Florida, ILG has offices in 15 countries and more than 10,000 associates. For more information, visit www.ilg.com.
ILG intends to file a proxy statement and white proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with its solicitation of proxies for its 2018 Annual Meeting of Stockholders (the “2018 Annual Meeting”). ILG stockholders are strongly encouraged to read the definitive proxy statement (and any amendments and supplements thereto) and accompanying white proxy card when they become available as they will contain important information. Stockholders may obtain the proxy statement, any amendments or supplements to the proxy statement and other documents as and when filed by ILG with the SEC without charge from the SEC’s website at www.sec.gov.
Certain Information Regarding Participants
ILG, its directors and certain of its executive officers may be deemed to be participants in connection with the solicitation of proxies from ILG’s stockholders in connection with the matters to be considered at the 2018 Annual Meeting. Information regarding the ownership of ILG’s directors and executive officers in ILG stock is included in their SEC filings on Forms 3, 4, and 5, which can be found through the SEC’s website at www.sec.gov. Information can also be found in ILG’s other SEC filings. More detailed and updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC. These documents can be obtained free of charge from the sources indicated above.