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22.04.2024 16:26
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BOOTS CAPITAL HIGHLIGHTS CROWN CASTLE'S SIGNIFICANT DESTRUCTION OF SHAREHOLDER VALUE AND FAILED OPERATIONAL STRATEGY DUE TO INEFFECTIVE LEADERSHIP
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HOUSTON, April 22, 2024
Urges Shareholders to Vote the GOLD Proxy Card "FOR" Boots Capital's Four Highly Qualified Director Nominees – Ted Miller, Charles Green, David Wheeler, and Tripp Rice – and "WITHHOLD" on ALL Crown Castle Nominees
Files Definitive Proxy Materials and Mails Letter to Crown Castle Shareholders
Launches www.RebootCrownCastle.com
HOUSTON, April 22, 2024 /PRNewswire/ -- Ted B. Miller, co-founder and former Executive Chairman & Chief Executive Officer of Crown Castle Inc., (NYSE: CCI) ("Crown Castle" or the "Company") and his investment vehicle Boots Capital Management, LLC ("Boots Capital") today filed definitive proxy materials with the Securities and Exchange Commission ("SEC") for the election of Ted B. Miller, Charles C. Green, David P. Wheeler, and Tripp H. Rice to Crown Castle's Board of Directors (the "Board") at the Company's 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting") to be held on May 22, 2024.
In connection with the filing of definitive proxy materials, Boots Capital is mailing a letter to Crown Castle's shareholders and launched www.RebootCrownCastle.com.
The full text of the letter being mailed is below.
April 22, 2024
To Crown Castle Shareholders:
You deserve better. For more than a decade, you and all Crown Castle shareholders have suffered at the hands of a Board that made the wrong decision every time it mattered most. The Board's poor judgment has cost shareholders tens of billions of dollars in value, left you with a debt-fueled dividend policy, and corroded employee morale and broader stakeholder trust.
As a fellow shareholder in Crown Castle Inc., Ted B. Miller, the Company's co-founder and former Executive Chairman & Chief Executive Officer and his investment vehicle, Boots Capital Management, LLC ("Boots Capital"), are deeply concerned about the future of the Company and believe that shareholders deserve better stewards of their capital. Crown Castle's Board has not provided meaningful insights regarding next steps and has shown resistance to engaging substantively with us. It's finally time to bring this lost decade to a close, and to take action to restore the value of your investment.
The facts speak plainly and loudly. Look at the chart below, which compares Crown Castle Total Shareholder Return (TSR) relative to the overall market and its two primary tower-company competitors – American Tower Corp. and SBA Communications Corp. Crown Castle has performed significantly worse than these direct peers and the overall market over each of the 10-, 7-, 5-, 3-, 2- and 1-year periods ending December 31, 2023.
Table 1: Total Shareholder Returns (TSR)1
| Actual TSR Performance | 1-Year | 2-Year | 3-Year | 5-Year | 7-year | 10-Year |
| CCI | -10 % | -39 % | -18 % | 28 % | 73 % | 127 % |
| AMT | 5 % | -22 % | 4 % | 53 % | 139 % | 234 % |
| SBAC | -8 % | -33 % | -7 % | 63 % | 156 % | 194 % |
| S&P 500 | 24 % | 0.08 % | 27 % | 90 % | 113 % | 158 % |
| | ||||||
| CCI's Relative TSR | 1-Year | 2-Year | 3-Year | 5-Year | 7-year | 10-Year |
| AMT | -292 % | -82 % | -542 % | -47 % | -47 % | -46 % |
| SBAC | -26 % | -19 % | -153 % | -56 % | -53 % | -34 % |
| S&P 500 | -142 % | -51,630 % | -168 % | -69 % | -35 % | -19 % |
Unsurprisingly, Crown Castle's TSR has lagged its two tower peers for the tenures of all of its legacy directors. Once again, the table below tells the story.
Table 2: Total Shareholder Returns (TSR) of Directors2
| Directors | Tenure | CCI's Relative TSR | CCI's Relative TSR |
| P. Robert Bartolo (2014) | 10.2 years | -44 % | -28 % |
| Cindy Christy (2007) | 16.7 years | -43 % | -53 % |
| Ari Q. Fitzgerald (2002) | 21.7 years | -35 % | -54 % |
| Andrea J. Goldsmith (2018) | 6.2 years | -56 % | -37 % |
| Anthony J. Melone (2015) Werbung Mehr Nachrichten zur Crown Castle International Aktie kostenlos abonnieren
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