Roaring Blue Lion Capital Management LP addressed HomeStreet Inc.'s concerns regarding the former's notice of proposals and nominations for the bank's board as invalid.
Roaring Blue Lion indicated that some of the Seattle-based bank's bylaws are not applicable to the investor. These include items in the bylaws regarding information on the methods employed and to be employed to solicit security holders, information about employees of the holder or any other participant that have been previously or are to be employed to solicit security holders, and information about contracts and arrangements with specially engaged employees, among other things.
Roaring Blue Lion reiterated its stance to continue to engage with HomeStreet's leadership on possible changes in the board or management and on sale or transfer of a material amount of assets.
Roaring Blue Lion beneficially owns an approximate 6% stake in the company.
