WM Argyle Fund urges Broadwind stockolders to vote for its board nominees

WM Argyle Fund, one of the largest investors in Broadwind, announced that it has filed its definitive proxy materials with the SEC proposing the election of its nominees to the Broadwind Board of Directors at the 2023 Annual Meeting of Stockholders. In its proxy materials, the Fund urged stockholders to vote FOR Ryan Bogenschneider, Christine Candela and James Robinson IV and to WITHHOLD on incumbent directors David Reiland, Thomas Wagner and Cary Wood. The letter read, in part, "For years you have been waiting for Broadwind to deliver the more prosperous future it promised, but you have nothing to show for it. The business cycle has been through peaks and troughs, yet the Company has firmly resided in the trough. Do not let the Board paint a rose-colored future of tax credits and unfettered demand. Do not let the Board sell you on the idea that this time it is different. The Board has had many opportunities to turn around Broadwind – to invest in new products, improve operations and build a profitable company. Instead, it has stayed in the trough of mediocrity, losing money, increasing debt, and diluting shareholders while paying themselves and top executives generously. It is time for a change…As one of the largest shareholders of Broadwind, we are excited to offer you an alternative to the failed performance of the past. Our candidates are eminently qualified in their respective fields and for the Board of Broadwind. They have vast experience working in profitable manufacturing companies and have conducted transformative actions that provided significant shareholder returns and improved the long-term viability of their respective companies. We look forward to charting a future that results in positive shareholder returns, strong employee satisfaction, and a growing customer base. We look forward to presenting more facts about the poor stewardship of the Board, and we are grateful for the opportunity to represent your interest when the current Board clearly does not."