08 03 2016

Engaged Capital outlined its concerns regarding the governance and management of OUTR’s assets and recommends a series of immediate actions for sustainable value creation

Olshan is advising Engaged Capital


Engaged Capital believes that OUTR’s underperformance and current depressed valuation is a direct result of the current board’s failed strategies, flawed capital allocation policies and misaligned governance. The highlights of the plan and presentation include: to cease all growth investments; manage both Redbox and Coinstar for cash; sell or shut down the ecoATM business; halt OUTR’s share repurchase program; use the majority of free cash flow to pay a large annual dividend and reduce debt; and immediately begin a sale process with the goal of taking OUTR private. Engaged Capital, LLC is an employee owned hedge fund sponsor. The firm, led by David Earl Demarest, Glenn William Welling, Christopher Bayer Hetrick, Greg Paulsen and Richard Todd Gray, is based in Newport Beach (CA). Steve Wolosky (Picture), Aneliya Crawford and Ryan Nebel represent Engaged Capital in connection with its activist campaign at Outerwall Inc.. Involved fees earner: Steve Wolosky - Olshan Frome Wolosky LLP; Aneliya Crawford - Olshan Frome Wolosky LLP; Ryan Nebel - Olshan Frome Wolosky LLP;

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