MG Capital announces Egan-Jones endorsement to replace HC2 Holdings board

MG Capital announced that Egan-Jones has endorsed its case for wholesale change at HC2 Holdings. Egan-Jones recommends that stockholders vote to consent to all actions on the green consent card, including the election of all six of MG Capital's independent nominees - George Brokaw, Kenneth Courtis, Michael Gorzynski, Robin Greenwood, Liesl Hickey and Jay Newman - to HC2's board. Egan-Jones' endorsement to remove each and every individual on the Board comes after Glass, Lewis announced its unanimous support of the entire slate, in addition to support for our case for change from ISS last week. Michael Gorzynski, MG Capital's founder and managing partner, commented: "We are very pleased that MG Capital's case for change at HC2 enjoys the unanimous support of all three independent proxy advisory firms. We appreciate that Egan-Jones has joined Glass Lewis and ISS in recommending that HC2 stockholders consent on the GREEN Consent card for our highly-qualified and independent nominees. It is our hope that all stockholders will take note of the fact that Egan-Jones sees significant value in our six nominees' comprehensive plan of action, which was a product of 'well-thought process and intelligence' that 'will unlock stockholder value in the long run.' Our nominees encourage stockholders to judge our slate based on our qualifications and strategy developed with a single end-goal in mind: return value to HC2 stockholders who have suffered at the helm of Mr. Falcone and his Board of cronies for far too long. We agree with Egan-Jones, Glass Lewis and ISS that fresh perspectives and a well-articulated strategy for value-creation are required in the boardroom to address HC2's poor financials, concerning related party transactions and dismal corporate governance. If elected to the Board, our nominees will continue to maintain an active, collaborative and productive dialogue with fellow directors and all stockholders - acting with integrity, accountability and stockholder-friendly governance policies. We are confident that our slate has the right vision to unlock the tremendous value trapped in HC2's assets and we will not rest until we deliver a better HC2 for all stockholders."