SAN FRANCISCO, April 23, 2019 SAILINGSTONE CAPITAL PARTERS
announces that it has written an open letter to Turquoise Hill
Resources (TSX/NYSE: TRQ) shareholders informing them that
SailingStone intends to vote AGAINST the independent directors of
TRQ at the May 14, 2019 Annual
Meeting. A copy of the letter can be found at
www.sailingstonecapital.com/resources.html
MacKenzie Davis, Managing Partner
at SailingStone, said, "We have long been troubled by corporate
governance practices at TRQ, and have worked diligently with the
Board to attempt to address these issues. Unfortunately, the Board
has refused to engage in productive dialogue, and we are left with
no choice but to vote AGAINST the independent directors. This is
not a decision which we have entered into lightly, given our
significant investment and our long-term commitment to the Company.
But, the fact remains that this is a world class asset that
deserves world class corporate governance practices so that all
stakeholders - Rio Tinto, the minority shareholders and the people
and government of Mongolia - are
aligned to achieve success at both the project and the corporate
level."
About SailingStone Capital Partners LLC
SailingStone Capital Partners LLC is an
employee-owned investment advisory firm focused exclusively on
providing investment solutions in the global natural resource
space. Based in San Francisco,
SailingStone manages concentrated, long-only equity portfolios for
institutional investors.
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SOURCE SailingStone Capital Partners LLC