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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Specialty Underwriters Allianc (MM) | NASDAQ:SUAI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.62 | 0 | 01:00:00 |
o | Preliminary Proxy Statement | |
o | Confidential, for Use of the Commission Only (as permitted by Rule 14a- 6(e)(2) ) | |
o | Definitive Proxy Statement | |
þ | Definitive Additional Materials | |
o | Soliciting Material Pursuant to §240.14a-12 |
þ | No fee required. | |
o | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. |
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o | Fee paid previously with preliminary materials. | |
o | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
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FOR FURTHER INFORMATION:
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Specialty Underwriters Alliance, Inc.
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Financial Relations Board | |
Scott Goodreau
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Leslie Loyet | |
(888) 782-4672
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(312) 640-6672 | |
sgoodreau@suainsurance.com
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lloyet@mww.com |
ü | SUAs Strategic Review Committee (comprised of three independent Board members with extensive M&A and industry experience) proactively considers all strategic alternatives for SUA, including whether a sale or merger will best increase stockholder value as compared to organic growth. |
ü | Your Board believes that any sale or merger transaction should recognize the long-term potential of the SUA business platform. | ||
ü | Not one of the independent proxy advisory firms that reviewed this proxy contest concluded that your Board responded to Hallmarks offer inappropriately. | ||
ü | Every stockholder the company visited after the Hallmark offer stated that the companys Board took the right action in rejecting the offer. | ||
ü | SUA listens to its stockholders and is always accessible to you through a variety of avenues, including road shows and phone calls after every earnings release. | ||
ü | SUAs stock price has beaten the S&P Insurance Index since the beginning of 2006 and has outperformed Hallmarks stock since Hallmark put forward its all share offer in June 2008. | ||
ü | Your Board has extensive insurance, reinsurance, investment banking, financial, corporate governance and legal experience. | ||
ü | SUAs Corporate Governance Quotient (CGQ) is better than 83.1% of insurance companies while Hallmarks is better than 31.4% of insurance companies. |
ü | Hallmark owns 9.9% of SUA, yet seeks to have its nominees represent 40% of the Board and half of all the Independent Directors. We offered to expand the board to include a Hallmark representative, but this was rejected by Hallmark . | ||
ü | Hallmark has repeatedly stated its desire to acquire control of SUA. | ||
ü | Hallmark recently filed with the Illinois Division of Insurance to gain approval to acquire up to 50% of the Companys outstanding common stock, which further demonstrates Hallmarks intent to acquire control. | ||
ü | We believe Hallmark is setting itself up to do a creeping acquisition of control of SUA that does not provide any control premium to SUA stockholders. We do not believe this is in your best interest as an SUA stockholder. | ||
ü | Every independent proxy advisory firm that reviewed this proxy contest stated that Hallmark has not provided any specific business or strategic plan for SUA. | ||
ü | Hallmarks slate of nominees adds no additional experience to your current Board and will serve the interests of Hallmark rather than the interests of all stockholders . |
| The meeting is quickly approaching. To make sure your vote is counted, please refer to the enclosed White Proxy Card for instructions to quickly and simply vote using the Internet or telephone. | ||
| To vote FOR SUAIs nominees, you MUST vote in FAVOR of the Board slate on the White Proxy Card . | ||
| Your Board of Directors urges you to DISCARD any gold proxy card that you receive from Hallmark. A WITHHOLD vote on their gold proxy card is NOT a vote for your Boards nominees. | ||
| Even if you have previously voted on the gold proxy card you can still support your Boards nominees by voting FOR on the enclosed White Proxy Card today . | ||
| Remember only your latest dated proxy will determine how your shares will be voted at the Annual Meeting. |
1 Year Specialty Underwriters Alliance Chart |
1 Month Specialty Underwriters Alliance Chart |
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