CPS Technologies stockholders Horton Capital Partners issues letter to CPS board
CPS Technologies' outside shareholders Horton Capital Partners Fund, with ownership of approximately 4% of the common stock of CPS, has a delivered a letter to the company's board. In the letter, Horton urges the board to be more proactive by making calculated investments in sales growth and cost reduction initiatives. Horton also requests that CPS be more transparent by publishing performance goals and holding themselves accountable for achieving them. Furthermore, Horton implores the Board to be better stewards of capital by evaluating all options for value creation, including M&A and return of excess capital to shareholders. Finally, Horton requests that the company strengthen its Board by adding representatives that can fill experience gaps and proactively manage implementation of value creation measures. The letter details an action plan that CPS should follow. Horton states that if these measures are adopted the price of CPS shares could increase 150% during the next twelve months.