Driver Management reports 6.49% stake in DNB Financial, requests access to books
On May 13, counsel for Driver Management sent a letter to Mr. Gerald F. Sopp, DNB Financial's corporate secretary reiterating Driver Management's demand to inspect certain books and records of DNB Financial. The letter said in part: "CT Opportunity believes that its initial demand to inspect DNBF's corporate books and records was proper in both form and substance, and that your letter denying access to these materials constitutes yet another pointless attempt to frustrate DNBF shareholders' exercise of their lawful rights. The significant number of withhold votes at the most recent annual meeting of DNBF shareholders, shows that other DNBF shareholders obviously agree that the current Board is not responsive to shareholders. Ideally, the Board would grant CT Opportunity's initial, proper request to inspect books and records in the spirit of transparency and constructive engagement. But since the Board has decided not to do so, please accept this letter as a revised demand, on behalf of CT Opportunity, for access to corporate books and records pursuant to Section 1508 of the BCL." Driver Management's stake in DNB Financial is 6.49% and represents 256,644 shares of DNB Financial stock and allows for activism.