Robert B. Webster to be Nominated to Hawaiian Telcom Board
2016年3月15日 - 5:14AM
Hawaiian Telcom Holdco, Inc. (NASDAQ:HCOM) (“Hawaiian Telcom” or
the “Company”) announced today that it has entered into a
Nomination, Standstill and Support Agreement (the “Agreement”) with
Twin Haven Capital Partners L.L.C. and certain affiliated entities,
including two funds managed thereby (collectively, “Twin Haven”).
The California-based investment firm has been a substantial
shareholder since the Company first became publicly traded in 2010.
Since then, Twin Haven has continued to support the company by
increasing its ownership share. Twin Haven is now Hawaiian Telcom’s
second largest shareholder, with approximately 22 percent of
Hawaiian Telcom’s common shares.
Under the Agreement, Robert B. Webster (or another Twin Haven
representative) will be nominated to Hawaiian Telcom’s Board of
Directors at each of the Company’s next three annual stockholders’
meetings. With this nomination, the Company continues to enhance
shareholder representation on its board.
“We are pleased that this Agreement enables Twin Haven and Rob
to positively and actively engage with us,” said Scott K. Barber,
Hawaiian Telcom’s President and CEO. “A seasoned board member with
deep financial and telecommunications experience, Rob will be a
valuable addition to our Board. I’m confident that he will make a
positive impact on our Company as we continue to grow the business
and reinforce our standing as Hawaii’s Technology Leader.”
Webster is a co-founder and Senior Managing Director of Twin
Haven and Portfolio Manager of Twin Haven’s Special Opportunities
Funds. He is an experienced board member, having served on the
boards of 11 different companies across a diverse array of
industries, including several in the telecommunications industry.
Prior to launching Twin Haven, Webster was a Managing Director at
Pequot Capital Management, Inc. where he served as Portfolio
Manager of the Special Opportunities Funds that were subsequently
transitioned to Twin Haven at its founding. His prior career
experience also includes tenure as a senior investment professional
at the private investment firm that previously founded Global
Crossing, as well as service as a Senior Vice President at Global
Crossing (which was subsequently acquired by Level 3). His career
experience also includes tenure as a partner at KPMG. Webster
received a bachelor’s degree in economics from the University of
California Los Angeles (UCLA) and was formerly a Certified Public
Accountant.
“I look forward to joining Hawaiian Telcom’s Board at this
critical time in the company’s rich history,” said Webster. “I
believe that, as a result of the company's significant investment
in its technology platforms, services and people, it enjoys a
strong strategic position that can be leveraged moving forward. I
look forward to working together with the other members of the
Board and the management team to further the common goal of serving
customers and maximizing Hawaiian Telcom’s shareholder value.”
The Agreement also provides for the Company’s support if Twin
Haven should opt to increase its ownership stake to up to 31.5
percent.
In connection with the Company’s agreement to nominate a Twin
Haven representative to Hawaiian Telcom’s Board of Directors, Twin
Haven has agreed to customary standstill and support commitments
for a term of three years.
Forward-Looking Statements
In addition to historical information, this release includes
certain statements and predictions that constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. In particular, any statement, projection or
estimate that includes or references the words “believes”,
“anticipates”, “intends”, “expected”, or any similar expression
falls within the safe harbor of forward-looking statements
contained in the Reform Act. Actual results or outcomes may differ
materially from those indicated or suggested by any such
forward-looking statement for a variety of reasons, including, but
not limited to: failures in Hawaiian Telcom’s critical back office
systems and IT infrastructure; breach of the our data security
systems; increases in the amount of capital expenditures required
to execute our business plan; the loss of certain outsourcing
agreements, or the failure of any third party to perform under
these agreements; our ability to sell capacity on the new submarine
fiber cable project; adverse changes to applicable laws and
regulations; the failure to adequately adapt to technological
changes in the telecommunications industry, including changes in
consumer technology preferences; adverse economic conditions in
Hawai‘i; the availability of lump sum distributions under our union
pension plan; limitations on the ability to utilize net operating
losses due to an ownership change under Internal Revenue Code
Section 382; the inability to service our indebtedness; limitations
imposed on our business from restrictive covenants in the credit
agreements; severe weather conditions and natural disasters;
network disruptions or other delays or interruptions of service;
and failure to renegotiate programming contracts with television
content providers. More information on potential risks and
uncertainties is available in recent filings with the Securities
and Exchange Commission, including Hawaiian Telcom’s 2015 Annual
Report on Form 10-K. The information contained in this release is
as of March 14, 2016. It is anticipated that subsequent events and
developments may cause estimates to change, and the Company
undertakes no duty to update forward-looking statements.
About Hawaiian Telcom Hawaiian Telcom
(NASDAQ:HCOM), headquartered in Honolulu, is Hawai‘i’s technology
leader, providing integrated communications, broadband, data center
and entertainment solutions for business and residential customers.
With roots in Hawai‘i beginning in 1883, the Company offers a full
range of services including Internet, video, voice, wireless, data
network solutions and security, colocation, and managed and cloud
services supported by the reach and reliability of its next
generation fiber network and a 24/7 state-of-the-art network
operations center. With employees statewide sharing a commitment to
innovation and a passion for delivering superior service, Hawaiian
Telcom provides an Always OnSM customer experience. For more
information, visit hawaiiantel.com.
Media Contact:
Su Shin
(808) 546-2344
su.shin@hawaiiantel.com
Investor Relations Contact:
Ngoc Nguyen
(808) 546-3475
ngoc.nguyen@hawaiiantel.com
Hawaiian Telcom Holdco, Inc. (delisted) (NASDAQ:HCOM)
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Hawaiian Telcom Holdco, Inc. (delisted) (NASDAQ:HCOM)
過去 株価チャート
から 7 2023 まで 7 2024