Charles Frischer, KPT Capital LLC, Clutterbuck Capital Management LLC, & Robert Clutterbuck Issue Joint Letter to Shareholders in Support of GetSwift Management
Summary
This letter comes amid a civil claim being pursued by the Australian Securities and Investments Commission against the company and two of its directors, which, according to news reports and announcements, will be followed by a shareholder class action. Shareholders have seen the company announce three strategic acquisitions: through Delivery Business Pro (farm-to-table), Scheduling Plus (workforce management), and Logo (data centers and government certifications). While many in the press look back on the events that took place several years ago, we believe it is more important to take stock of the many accomplishments that GetSwift has made, particularly in the face of the significant distraction caused by lawsuits. If we were to tally the shareholdings in the company of GetSwift’s senior management, CF, KPT, CCM & RC, and other US holders that have contacted us, the total ownership represents (without taking into account Fidelity’s stake) over 65% of the shares on issue. From where we stand, the positive momentum at GetSwift is attributable to the quality of their entire team, but the catalyst of their growth and success revolves around Bane Hunter, CEO and Joel MacDonald, President.