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News Breaks
December 20, 2012
12:27 EDTSWCClinton Group calls for changes at Stillwater Mining
Clinton Group announced that it has sent a letter to the board of directors of Stillwater Mining Company (SWC) demanding changes to the strategy, operations and management of the company. Clinton Group owns a significant stake in the company. The letter critiques the current management team and Board for a series of strategic missteps and bad acquisitions; operating with a bloated cost structure and marketing budget; and for issuing a high cost-of-capital convertible bond in October. The letter goes on to demand the board take seven steps to improve the cash flow and operations of the business. The letter also expresses the Clinton Group's view that the Company is undervalued and that taking the steps outlined in the letter can help stockholders realize fair value for the stock. The Clinton Group's valuation analysis concludes that fair value is approximately $21-23 per share.
News For SWC From The Last 14 Days
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February 1, 2016
08:08 EDTSWCStillwater Mining employees ratify four-year labor agreement
Stillwater Mining reported that union employees at the Company's Stillwater Mine and Columbus processing facilities, represented by the USW International Union Local 11-0001, have ratified a new four-year labor agreement. The material points of the agreement are: no increase in base wages for each of the first two years of the agreement; and simplification of the incentive program and the introduction of metrics that better align employee and shareholder outcomes. The effective date of the new agreement is June 2, 2015.

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