Details Crown Castle Board's Track Record of
Poor Judgement, Resulting in Years of TSR and Stock Price
Underperformance, Debt-Fueled Dividend, Mishandled CEO Succession,
Loss of Talent, and Operational Missteps
Boots Capital's Nominees Fill the Tower
Operating Expertise that is Sorely Missing From and Desperately
Needed on CCI's Board
Boots Capital's Nominees are Committed to
Working Collaboratively with the Board and Focused on Enhancing
Operational Excellence and Unlocking Meaningful Value for all
Shareholders
Urges Shareholders to Vote the GOLD Proxy Card
"FOR" Boots Capital's Four Nominees and "WITHHOLD" on ALL Crown
Castle Nominees
View the Presentation at
RebootCrownCastle.com
HOUSTON, May 1, 2024
/PRNewswire/ -- Boots Capital Management, LLC ("Boots Capital"), an
investment vehicle led by Ted B.
Miller, co-founder and former Chief Executive Officer of
Crown Castle Inc., (NYSE: CCI) ("Crown Castle" or the
"Company"), today released a presentation highlighting why change
to Crown Castle's Board of Directors (the "Board") is urgently
needed, and detailing how Boots Capital's four nominees,
Ted B. Miller, Charles C. Green, David
P. Wheeler, and Tripp H.
Rice, have the right leadership skills, operating plan, and
corporate governance track record to restore value for shareholders
and all stakeholders.
Boots Capital encourages all shareholders to view the
presentation, which can be found at
rebootcrowncastle.com.
Mr. Miller stated: "Crown Castle's Board has no one to blame
other than themselves for allowing the Company to pursue a fiber
acquisition strategy that has cost shareholders more than
$22 billion, for failing to have a
proper CEO succession strategy in place, and for presiding over
significant relative Total Shareholder Return (TSR)
underperformance over 1-, 3-, 5-, 7-, and 10-year periods. Yet,
Crown Castle would rather waste substantial additional shareholder
resources on a proxy contest and ask for even more time in support
of the same directors who have failed so spectacularly for more
than a decade.
"If elected, Boots Capital's nominees will give the Crown Castle
Board the tools, skills, and a fresh, experienced view for the
major turnaround that will benefit all shareholders. We believe
that our expertise and plan – finalizing the fiber sale, refocusing
the Company on tower efficiency and growth, resetting compensation
plans, reviving customer relationships, rebuilding shareholder
trust, and invigorating employees – will help reboot Crown Castle
and drive significant, long-term value creation."
WE URGE YOU TO VOTE "FOR" ON
THE GOLD PROXY CARD TODAY IN SUPPORT OF OUR FOUR
HIGHLY-QUALIFIED NOMINEES
We are asking for your support to help us create long-term,
sustainable value at Crown Castle. We urge you to protect the value
of your investment and vote the GOLD proxy card
today. With your vote, we will be one step closer to ensuring Crown
Castle is on a better path to creating lasting shareholder
value.
Please vote "FOR" Boots Capital's Nominees on
the GOLD proxy card TODAY.
You can vote by Internet or by signing and dating
the enclosed GOLD proxy card
or GOLD voting instruction form and mailing it in
the postage paid envelope provided. We urge you NOT to vote using
any white proxy card or voting instruction form you receive from
Crown Castle. Please discard the white proxy card.
If you have any questions about how to vote your shares, please
contact our proxy solicitor, Morrow Sodali, by telephone
1-800-662-5200 or 203-658-9400 or email
at Boots@info.morrowsodali.com.
INVESTOR AND MEDIA CONTACTS
Investors:
Morrow Sodali LLC
Paul Schulman/William Dooley/Jonathan Eyl
By Phone: 1-800-662-5200 or 203-658-9400
By Email: Boots@info.morrowsodali.com
Media:
Jonathan Gasthalter/Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
By Phone: 212-257-4170
By Email: bootscapital@gasthalter.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
The information herein contains "forward-looking statements."
Specific forward-looking statements can be identified by the fact
that they do not relate strictly to historical or current facts and
include, without limitation, words such as "may," "will,"
"expects," "believes," "anticipates," "plans," "estimates,"
"projects," "potential," "targets," "forecasts," "seeks," "could,"
"should" or the negative of such terms or other variations on such
terms or comparable terminology. Similarly, statements that
describe the Participants' (as defined below) objectives, plans or
goals are forward-looking. Forward-looking statements are subject
to various risks and uncertainties and assumptions. There can be no
assurance that any idea or assumption herein is, or will be proven,
correct. If one or more of the risks or uncertainties materialize,
or if the underlying assumptions of Boots Capital (as defined
below) or any of the other Participants in the proxy solicitation
described herein prove to be incorrect, the actual results may vary
materially from outcomes indicated by these statements.
Accordingly, forward-looking statements should not be regarded as a
representation by Boots Capital or the other Participants that the
future plans, estimates or expectations contemplated will ever be
achieved. You should not rely upon forward-looking statements as a
prediction of actual results and actual results may vary materially
from what is expressed in or indicated by the forward-looking
statements. Except to the extent required by applicable law,
neither Boots Capital nor any Participant will undertake and
specifically declines any obligation to disclose the results of any
revisions that may be made to any projected results or
forward-looking statements herein to reflect events or
circumstances after the date of such projected results or
statements or to reflect the occurrence of anticipated or
unanticipated events.
Certain statements and information included herein have been
sourced from third parties. Boots Capital and the other
Participants do not make any representations regarding the
accuracy, completeness or timeliness of such third party statements
or information. Except as may be expressly set forth herein,
permission to cite such statements or information has neither been
sought nor obtained from such third parties. Any such statements or
information should not be viewed as an indication of support from
such third parties for the views expressed herein.
CERTAIN INFORMATION CONCERNING THE PARTICIPANTS
The participants in the proxy solicitation are Boots Parallel 1,
LP, Boots, LP, Boots Capital Management, LLC ("Boots Capital"),
Boots GP, LLC, 4M Management
Partners, LLC, 4M Investments, LLC,
WRCB, L.P., Theodore B. Miller, Jr.
and Tripp H. Rice (collectively, the
"Boots Parties"); and Charles Campbell
Green III and David P.
Wheeler (together with Mr. Miller and Mr. Rice, the "Boots
Nominees," and together with the Boots Parties, the
"Participants").
Boots Capital and the other Participants have filed a definitive
proxy statement and accompanying GOLD proxy card (the "Definitive
Proxy Statement") with the Securities and Exchange Commission (the
"SEC") on April 22, 2024 to be used
to solicit proxies for, among other matters, the election of its
slate of director nominees at the 2024 annual meeting of
stockholders of Crown Castle Inc., a Delaware corporation ("Crown Castle" or the
"Corporation").
IMPORTANT INFORMATION AND WHERE TO FIND IT
BOOTS CAPITAL STRONGLY ADVISES ALL STOCKHOLDERS OF CROWN CASTLE
TO READ THE DEFINITIVE PROXY STATEMENT, ANY AMENDMENTS OR
SUPPLEMENTS TO SUCH DEFINITIVE PROXY STATEMENT, AND OTHER PROXY
MATERIALS FILED BY BOOTS CAPITAL AS THEY CONTAIN IMPORTANT
INFORMATION. SUCH PROXY MATERIALS ARE AVAILABLE AT NO CHARGE ON THE
SEC'S WEBSITE AT WWW.SEC.GOV AND AT BOOTS CAPITAL'S WEBSITE AT
WWW.REBOOTCROWNCASTLE.COM. THE DEFINITIVE PROXY STATEMENT AND
ACCOMPANYING PROXY CARD WILL BE FURNISHED TO SOME OR ALL OF THE
CORPORATION'S STOCKHOLDERS. STOCKHOLDERS MAY ALSO DIRECT A REQUEST
TO THE PARTICIPANTS' PROXY SOLICITOR, MORROW SODALI LLC, 430 PARK
AVE., 14TH FLOOR, NEW YORK, NEW
YORK 10022 (STOCKHOLDERS CAN CALL TOLL-FREE: (800)
662-5200).
Information about the Participants and a description of their
direct or indirect interests by security holdings or otherwise can
be found in the Definitive Proxy Statement.
View original
content:https://www.prnewswire.com/news-releases/board-change-at-crown-castle-is-needed-urgently-boots-capital-releases-investor-presentation-302133724.html
SOURCE Boots Capital Management, LLC