Gullane Capital Partners Announces Support for Activist Position of Destination Maternity

Hedge fund owning 3%+ of outstanding shares supports slated new board members

MEMPHIS, Tenn.--()--Gullane Capital Partners, a Memphis-based hedge fund that holds 3%+ ownership in Destination Maternity Corporation (Nasdaq: DEST), today announced its support of the GOLD proxy card issued by activist shareholders Nathan Miller and Peter O’ Malley calling on stockholders to vote in favor of four director nominees at the Company’s 2018 annual meeting, taking place on May 23, 2018.

“Destination Maternity’s existing board has been given ample time to fix DEST while watching the stock price fall over 80% in the past three years,” said Trip Miller, Managing Partner of Gullane Capital Partners, a value investor who is not affiliated with the activist shareholder group backing the GOLD proxy.

Miller continued, “We believe the four new proposed directors are highly qualified to restore long term value to DEST and encourage other shareholders to take action.”

To learn more about Gullane Capital Partners, visit www.gullanecapitalpartners.com.

About Gullane Capital Partners, LLC

Founded in 2002, Gullane Capital LLC is the investment advisor to the Gullane Capital Partners, LLC fund and separately managed accounts. We are value investors following the teachings of Ben Graham, Warren Buffett, and Charlie Munger. Gullane Capital LLC utilizes a concentrated, disciplined value investing philosophy to manage partner capital for the long term.Gullane focuses exclusively on bottom up proprietary research of publicly traded securities across the capital structure, with no market cap, industry, or geographic restrictions. We define risk as permanent capital loss, not short-term market volatility.

Contacts

Gregory FCA for Gullane Capital Partners
Amy Lash, 610-228-2806
amyl@gregoryfca.com

Release Summary

Gullane Capital Partners Announces Support for Activist Position of Destination Maternity

Contacts

Gregory FCA for Gullane Capital Partners
Amy Lash, 610-228-2806
amyl@gregoryfca.com