MarineMax Says Prioritizes Shareholder Value And Stakeholder Input

(RTTNews) - Responding to recent letters issued by Island Capital Group LLC, MarineMax Inc. (HZO) said it is open-minded and regularly evaluates bone fide opportunities to enhance shareholder value.

The company said it remains responsive to input from key stakeholders, including multiple discussions with Island Capital Group LLC. The company will continue to prioritize decisions and actions that it believes align with the best interests of MarineMax and its shareholders.

Earlier today, in an updated letter to MarineMax shareholders, Island Capital Group stated that there has been no communication from any member of MarineMax's management team or board of directors since the publication of its open letter earlier this week. Additionally, there has been no outreach from the company's financial or other advisors. This lack of response may also be disappointing to shareholders

Island Capital Group has sought the support of MarineMax's shareholders for its proposal to acquire the YMRS Business from MarineMax, as evidenced by recent trading activity in the company's stock. The closing share price on July 9 (the day Island Capital Group sent its initial letter) was $30.36, and Thursday's closing price was $36.07 - a 19% increase. The market clearly recognizes that Island Capital Group's proposal would unlock significant value for MarineMax's shareholders.