Charles & Colvard (CTHR) rejects Riverstyx director nominations
Key Summary: On August 27, 2024, Riverstyx Capital Management (8.7%) notified the Company of its intention to nominate three Board candidates for the next annual shareholders meeting. On October 7, 2024, the company stated that the nomination notice from Riverstyx Capital Management to elect three candidates to the Board of Directors is invalid.
Market Cap: $5 million| Charles & Colvard, Ltd. operates as a fine jewelry company in the United States and internationally.
Riverstyx Capital Management
- On August 27, 2024, Riverstyx Capital Management (8.7%) submitted notice to the Company that it intends to nominate three candidates for election to the Board of Directors at the next annual meeting of shareholders. Source
- On October 1, 2024, Riverstyx Capital Management issued a letter to the shareholders urging them to support for real change at the company.
- On October 7, 2024, the company stated that the nomination notice from Riverstyx Capital Management to elect three candidates to the Board of Directors is invalid. It stated that the notice failed to meet the requirements of the company’s 2011 Amended and Restated Bylaws. Missing information includes candidate biographies, ownership stakes, and consent to serve. Source
Carlos Daniel Valadez
- On April 11, 2023, Carlos Daniel Valadez (5.16%) stated that he intended to engage in discussions with the management and the board regarding the company's strategic marketing plan, capital allocation strategy, branding strategy and other related topics. Source
- On May 15, 2023, Mr. Valdez sent a letter to the Board, requesting certain changes to the company’s strategy.
Member discussion