Imation Urges Shareholders To Vote FOR Its Director Nominees - Quick Facts

(RTTNews) - Imation Corp. (IMN) announced that its board recommends that shareholders vote the WHITE proxy card FOR the Company's three director nominees: Mark Lucas, White Matthews, III and David Stevens.

The company said it will mail a letter to shareholders in connection with the Company's 2015 Annual Meeting of Shareholders, scheduled for May 20, 2015.

The company stated that the Clinton Group, a hedge fund that purchased shares in Imation just a few short months ago, has chosen to launch a highly disruptive proxy fight in what, the company believes, is an attempt to gain effective control of Company without any detailed and informed plan and without paying any control premium to pursue its own self-interested goals.

To accomplish this, Clinton is seeking to remove three of Imation's Directors - one of whom currently serves as Chairman and another whom serves as CEO - with three candidates who lack a fundamental understanding of your Company, have no relevant experience leading a public company, no relevant experience in leading a global business and no original ideas to maximize the value of Shareholders investment.

At the same time, the company noted that its board continues to assess all strategic alternatives with a financial advisor to maximize shareholder value. It believes that the Clinton Group's insistence on its own due diligence period required to understand Imation and its desire to control the agenda regarding the strategic alternative process could materially impact the outcome of this process and the potential value of shareholders investment.