13D Filing or Marketing Piece? You Decide


Purpose of Transaction.

Item 4 of the Schedule 13D is supplemented and superseded, as the case may be, as follows:

Since the filing of Praesidium’s Schedule 13D amendment on August 2, 2017, in which Praesidium stated that it had brought ideas around “internal initiatives” directly to the Issuer’s Board of Directors, the Issuer’s stock price has appreciated by approximately 50%. Following Praesidium’s August 2nd Schedule 13D amendment, it issued a detailed public letter and presentation on September 15, 2017, which were filed as exhibits to Praesidium’s Schedule 13D amendment filed on September 15, 2017. Subsequently, the Issuer publically stated that the “board has carefully considered Praesidium’s observations and believes many of their ideas have merit,” and has reacted by enacting significant change in the Issuer’s acquisition strategy, cost cutting initiatives and capital allocation. As a result of the significant stock price appreciation, the Reporting Persons have reduced their holdings of the Issuer’s shares of Common Stock.

Link to Filing: https://www.sec.gov/Archives/edgar/data/876167/000092189518000878/0000921895-18-000878-index.htm


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