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
kevin@keenancommunicationsgroup.com
If shareholders have any questions, please contact our Proxy
Solicitor, Alliance Advisors at:
Alliance Advisors
200 Broadacres Drive, 3rd Floor
Bloomfield, NJ 07003
Email: BHW@allianceadvisors.com
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SOURCE Beaver Hollow Wellness
