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Home | News | 2016 | Wintergreen Advisers to Oppose CTO Proposed Share Issuance, and Support Proposal to Hire Independent Advisor

For the period ending March 31, 2017, the Fund's 1-year, 5-year, 10-year, and since inception (10/17/05) average annual returns for the Investor Class were 14.54%, 4.82%, 4.17%, and 5.91%, respectively, and the 1-year, 5-year, and since inception (12/30/11) average annual return for the Institutional Class were 14.85%, 5.07%, and 5.59%, respectively. Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Shares redeemed within 60 days of purchase are subject to a 2.00% redemption fee. As stated in the current prospectus, the Fund's total annual operating expense ratio for Investor Class shares (WGRNX) is 1.92%, and Institutional Class shares (WGRIX) is 1.69%. Click here to view the Fund's most recent month-end performance data.


Wintergreen Advisers to Oppose Consolidated-Tomoka Land Co. Proposed Share Issuance that It Believes Could Dilute Current Holders by 23%, and Support Proposal to Hire Independent Advisor to Maximize Shareholder Value

April 7, 2016

New York, NY - (Business Wire) - Wintergreen Advisers, LLC ("Wintergreen" or "the Firm") today announced that it intends to vote against certain proxy items proposed by Consolidated-Tomoka Land Co. ("CTO" or "the Company", NYSE: CTO), including the Item 5 proposal to issue additional shares of common stock. According to Wintergreen's analysis of information provided in CTO's proxy statement, Wintergreen believes this issuance, if fully exercised, could dilute existing CTO shareholders to the tune of more than 23%. Accordingly, the Firm believes that this proposal is destructive to the interests of CTO shareholders and it plans on voting no to Item 5.

In a letter filed with the Securities and Exchange Commission ("SEC"), Wintergreen indicated it will support the Wintergreen proposal to request that CTO hire an independent adviser to evaluate ways to maximize shareholder value. Wintergreen believes that shares of CTO are extremely undervalued and that substantial value is available to be unlocked quickly. Wintergreen believes an independent third party would accelerate this process by assisting CTO's Board of Directors (the "Board") in identifying viable opportunities to maximize shareholder value.


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The article excerpts and hyperlinks reference individual securities that may or may not currently be held by the Fund. Click here to view a recent listing of the Fund's top 10 holdings. The S&P 500 Index is a broad-based, unmanaged measurement of changes in stock market conditions based on the average of 500 widely held common stocks. One cannot invest directly in an index.


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