Beaver Hollow Wellness Issues Letters to Servotronics, Inc. (NYSE American - SVT) Shareholders and Board of Directors
S.A.V.E. Servotronics Proposal
Shareholder Action for Value and Employees
BUFFALO, N.Y., Feb. 4, 2025 /PRNewswire/ -- Beaver Hollow Wellness issued the following letters to Servotronics, Inc. (NYSE American – SVT) shareholder and the Board of Directors:
Investors, employees, customers, and other interested stakeholders can view our plan, and related materials, at https://saveservotronics.com/
Dear Fellow Shareholders and the Servotronics Board of Directors,
We are Beaver Hollow Wellness, LLC, one of the largest shareholders of Servotronics, Inc. ("Servotronics" or "the Company") and we are compelled to present this proposal with urgency and purpose. The goal is to address a critical situation that threatens the financial stability of Servotronics.
For nearly three years, Beaver Hollow Wellness, LLC has made efforts to collaborate with the Servotronics Board of Directors ("the Board") and its leadership. We have offered executive support, offered to make strategic industry connections, and offered to uncover untapped asset value – all in an effort to support the Company's success. Unfortunately, these offers were repeatedly declined. As a result, Servotronics customers, along with its shareholders and employees, have faced mounting frustration, along with a significant decline in shareholder value.
It is our belief that the Board and CEO have failed to deliver the necessary outcomes to stabilize the business and create wealth for all stakeholders. Instead, they have disproportionately and shamefully enriched themselves, to the detriment of the company's long-term performance and future. This failure has placed Servotronics future in serious jeopardy and immediate action is needed to prevent further financial deterioration.
So now and with great urgency, we seek your support to reclaim the future of Servotronics. These are the Key Objectives of the S.A.V.E. Proposal:
- Rapidly improve manufacturing capabilities.
- Regain customer confidence.
- Restore employee morale.
- Reverse the devastating decline in Shareholder Value.
We anticipate that the Board may argue they are already implementing some of the actions outlined and that this plan doesn't introduce anything new. Not only do we disagree, but their own reported operational failures and unprecedented financial losses provide ample evidence that their perspective can no longer be trusted. We argue that the Strategic Evaluation, Financial Stabilization, Customer Engagement, Workforce Development, and Collaboration with the University of Buffalo, are all fresh and distinct initiatives. Overall, the key difference is our proposed team of expert director nominees. These are the people who can be trusted to successfully execute this plan. They have the in-depth understanding and expertise to do what is required and intended for each of the elements of the plan, focusing on better talent, an empowered team, and an aggressive timeline.
To ensure the success of this plan, we have collaborated with Industry Leading Experts, two of whom are proposed nominees for the Servotronics Board (including one who is proposed as new interim company CEO) and the former COO of Servotronics. Each of these individuals are considered experts in the areas of change management, manufacturing efficiency and operational effectiveness. These individuals have graciously added personal letters of endorsement for this plan and as a courtesy, we have attached these letters along with their professional credentials.
Respectfully Submitted,
Paul Snyder, III
For and on behalf of Beaver Hollow Wellness, LLC
Media Contact:
Kevin Keenan
Keenan Communications Group
716-481-6806
[email protected]
If shareholders have any questions, please contact our Proxy Solicitor, Alliance Advisors at:
Alliance Advisors
200 Broadacres Drive, 3rd Floor
Bloomfield, NJ 07003
Email: [email protected]
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SOURCE Beaver Hollow Wellness