AstroNova’s board issues statement on Samir Patel proxy contest

AstroNova’s (ALOT) board of directors issued a statement which states, among other things: “the total failure on Samir Patel’s and Askeladden’s part to participate in efforts to come to a collaborative and amicable solution..Samir Patel agreed with Richard S. Warzala, Lead Independent Director of AstroNova, that the content of their conversations would not be made public. He violated that confidence with his recent news release by publishing selected portions of the content of the conversations…Samir Patel violated the agreement that the content of the conversations between himself and AstroNova’s Lead Independent Director were confidential…Samir Patel failed to offer any proposal of settlement…Samir Patel exposed his lack of understanding regarding corporate governance…no appreciation of director fiduciary obligations to all shareholders…no understanding of the definition of an independent director…no understanding of SEC rules…which makes him unsuitable and unqualified to serve on AstroNova’s Board of Directors. We urge Shareholders to vote for AstroNova’s six highly qualified director nominees.”