Hartman Shareholder Alliance Accuses Silver Star Properties REIT (SSPN) of Abusing Poison Pill to Rig Vote, Urges Shareholders to Oust Board

Summary

SILVER STAR ATTEMPTS TO POISON THE SHAREHOLDER VOTE

The Silver Star Board Campaigns To Stay In Office Through Illegally Reallocating Voting Shares

June 23, 2025

Dear Shareholders,

Silver Star triggered a “poison pill”, a defensive legal tactic to prevent a corporate takeover, and announced a new record and meeting date.

This change in record date is a violation of the Board’s fiduciary obligations to the shareholders. It is believed the sole purpose is to entrench the incumbent board and block shareholders from a fair election.

This is the only known company in US history to have triggered a poison pill or shareholder rights plan twice. In desperation Silver Star’s board manipulates and misuses the law to remain in power and escape accountability. They prove themselves willing to do anything and say anything, irrespective of the law, truth, professionalism, or decency, to avoid answering for their diminishment of Silver Star value, their lack of real estate acumen, and their nefarious and expensive legal maneuvering.

While the company did not disclose the reason for the trigger it could be assumed, given the daily barrage of attacks on Al Hartman for Silver Star Board’s own failures, to target Hartman’s shares, dilute him, and award themselves with more stock.

This Board cannot and will not steal your money and remain in power. You must act NOW and vote them out by voting the BLUE card online or call (619) 664-4780. See attached proxy letter for more details. Vote for the return of your capital – NOW!

The number one priority of a board of directors is fiduciary responsibility to the shareholder. Haddock and the Silver Star team are intent on using your money to fight for their survival and the disenfranchisement of the shareholder. You will soon receive a short proxy supplement that announces the poison pill.

See the attached proxy letter for more details. Click here to read the full letter.

Call us directly at (619) 664-4780 to vote for the return of your capital or vote the blue proxy from our online e-mail.

Thank you for your trust and support.

Sincerely,

Al Hartman
The Hartman Shareholder Alliance Team

Source:

https://www.sec.gov/Archives/edgar/data/831616/000110465925061857/tm2518680d3_dfan14a.htm