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Engine Capital Calls on Parkland Corp.’s Board of Directors to Pursue Strategic Alternatives

Believes Board Should Immediately Commit to Running a Comprehensive Review of Strategic Alternatives Following Several Years of Share Price Underperformance, Inefficient Operations and Suboptimal Capital Allocation

Estimates a Sale to a Strategic Acquirer Would Yield Approximately $64 Per Share for Shareholders, Likely Representing the Best Risk-Adjusted Path Forward

original Engine Capital Calls on Parkland Corp.’s Board of Directors to Pursue Strategic Alternatives.

Engine Capital Calls on Parkland Corp.’s Board of Directors to Pursue Strategic Alternatives.

NEW YORK--(BUSINESS WIRE)--Engine Capital LP, which owns approximately 2.5% of Parkland Corporation’s (TSX: PKI) outstanding shares, today sent the above letter to members of Parkland Corporation’s Board of Directors.

About Engine Capital

Engine Capital LP is a value-oriented special situations fund that invests both actively and passively in companies undergoing change.

Contacts

For Investors:

Engine Capital LP
212-321-0048
info@enginecap.com

For Media:

Longacre Square Partners
Charlotte Kiaie / Bela Kirpalani, 646-386-0091
ckiaie@longacresquare.com / bkirpalani@longacresquare.com

Industry:

Engine Capital LP

Release Versions
English

Contacts

For Investors:

Engine Capital LP
212-321-0048
info@enginecap.com

For Media:

Longacre Square Partners
Charlotte Kiaie / Bela Kirpalani, 646-386-0091
ckiaie@longacresquare.com / bkirpalani@longacresquare.com

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