Open Letter to NYX Gaming Board: Urgent Action Needed to Restore Shareholder Value
June 7, 2017
As long suffering shareholders of NYX, we are extremely disappointed with the share price performance and the lack of urgency by the board. NYX board and management have consistently failed their shareholders and oversaw the collapse of the share price. The board has shown inability or unwillingness to stem the destruction of the share price, much less create shareholder value. It is clear to us many institutional investors and portfolio managers, for instance, have lost confidence in NYX leadership team.
We urge all NYX Gaming shareholders to hold the board accountable and reject/withhold their votes with respect to proposed resolutions in the current proxy in order to send powerful message to the board: its performance is unacceptable.
NYX board should, at minimum, reconsider awarding bonuses to executives, especially the CEO as he failed to deliver for shareholders. The board must not allow incompetence and arrogance to continue to define NYX.