Hestia Capital Partners LP, Permit Capital Enterprise Fund, L.P. and their affiliates, who beneficially own approximately 7.5% of the outstanding common stock of GameStop Corp. (NYSE: GME), announced today that they have filed a preliminary proxy statement with the SEC in conjunction with the Company's 2020 annual meeting of stockholders, which is expected to take place in mid-June. In addition, due to the high short interest in GameStop's stock, the Investor Group provided guidance to stockholders about how to ensure their shares will be voted at the 2020 Annual Meeting.
Stockholders can review the Investor Group's materials and other important information at www.RestoreGameStop.com
IMPORTANT NOTE TO GAMESTOP STOCKHOLDERS REGARDING VOTING THEIR SHARES AT THE 2020 ANNUAL MEETING:
GameStop stockholders who have loaned, pledged or hypothecated any of their Common Stock may not be able to vote their shares unless such shares are returned to their accounts before the record date. Due to the short interest in GameStop, it is possible that stockholders are not aware that their stock has been loaned by their broker. According to information GameStop has provided to custodial banks, brokers and other intermediaries, we believe GameStop has set a record date of Monday, April 20 for the 2020 Annual Meeting. Since shares on loan cannot be voted, it is imperative that stockholders who wish to vote at the 2020 Annual Meeting make certain they have their shares in proper voting order before the record date. It is important to know that this process may take several days to complete. Stockholders can call Saratoga Proxy Consulting LLC at (212) 257-1311 or (888) 368-0379 if they have any questions with this process.
About Hestia Capital
Hestia Capital is a long term focused, deep value investment firm that typically makes long-term investments in a narrow selection of companies facing company-specific, and/or industry, disruptions. Hestia seeks to leverage its General Partner's expertise in competitive strategy and capital markets to identify attractive situations within this universe of disrupted companies. These companies are often misunderstood by the general investing community and provide the 'price dislocations' which allows Hestia to identify, and invest in, highly attractive risk/reward investment opportunities.
About Permit Capital Enterprise Fund
The Permit Capital Enterprise Fund, through its management company, follows an investing philosophy that seeks to identify securities trading at a discount to intrinsic value. The investment approach is bottom-up and focused on the valuation of the securities of individual issuers. The management company's assessment of intrinsic value is based on its own fundamental research as well as numerous sources of publicly available information.
