Benzinga | Apr 6, 2021 04:20PM EDT

Blucora Shareholder, Ancora Holdings, Comments On Co.'s 'Misleading' Shareholder Letter

Ancora Holdings, Inc. (together with its affiliates, "Ancora" or "we"), which collectively with the other participants in its solicitation beneficially owns approximately 3.4% of the outstanding common stock of Blucora, Inc. (NASDAQ:BCOR) ("Blucora" or the "Company"), today issued the following supplemental slides in response to the recent attempts to smear nominee Frederick D. DiSanto: www.abetterblucora.com/stockholder-resources.

In addition, Ancora issued the following statement:

"Ancora is disappointed that Blucora's Board of Directors has decided to continue spending stockholders' resources on a highly-personalized, low-road campaign to smear Mr. DiSanto. In this morning's letter, Blucora once again attacked Mr. DiSanto's character, distorted his attempts to avert a contest and used innuendo to imply he is not attuned to the modern boardroom environment. We categorically reject Blucora's depiction of Mr. DiSanto, who has a three-decade track record defined by collegiality, ethics and openness. We hope investors recognize that a high-functioning and well-governed Board would not be resorting to character assassination as a means of mitigating change.

As previously noted, we urge stockholders to focus on the actions, decisions and financial results that the Board of Directors has presided over. Do not allow Blucora to use distractions and diversions to deflect attention away from what matters in this contest: the incumbents' boardroom decisions and professional records.

Each of our nominees, including Mr. DiSanto, look forward to putting this election contest behind them and working in a collaborative manner with the remaining incumbents. Stockholders have our nominees' pledge that they will not allow the acrimony of this campaign to impact them. Our slate will build bridges in the Blucora boardroom, much like they have done throughout their careers."

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As a reminder, Ancora is seeking to reconstitute Blucora's 10-member Board of Directors at the Company's Annual Meeting of Stockholders on April 21, 2021 by removing four incumbent directors and electing four highly-qualified financial services industry experts: Mr. DiSanto, Cindy Schulze Flynn, Robert D. MacKinlay and Kimberly Smith Spacek.

Ancora encourages Blucora's stockholders and stakeholders to vote on the WHITE Proxy Card by signing, dating and returning each WHITE Proxy Card they receive. Please visit www.ABetterBlucora.com to download the Ancora slate's presentation and obtain important information, including instructions for how to vote on the WHITE Proxy Card to elect our four-member slate.