The Urgent Need for Change and The Superior Path Forward
THE CURRENT CRISIS SHOULD NOT SERVE AS A
"FREE PASS" FOR THE INCUMBENT BOARD
■
This is the same Board that could not drive results and effectively manage Synalloy
during the past decade of tremendous economic expansion
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01. 02. 03. 04. 05.
The incumbent Board and management team have left Synalloy completely over-levered and on the brink
of defaulting on its debts
Executive Summary
In our view, the current economic situation only reinforces the need for stockholder intervention before it
is too late
The incumbent Board has not
made public a credible plan to
proactively manage the
Company amidst this crisis
PRIVET
FUND
UPG
STRONGER TOGETHER
We are very concerned that, if our nominees are not able to immediately correct the problems at
Synalloy, the Company's equity value may never recover under the unqualified current Board and
management team
Our nominees and proposed
interim CEO have a specific and
deliberate operational plan that
can halt Synalloy's downward
spiral, even in the current
market environment
Why should stockholders have any confidence that the same individuals - who
failed them for a decade - can lead Synalloy through uncharted waters?
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