Marlton LLC Issues Letter to Parks! America, Inc. Board Seeking Stronger Commitment to Stockholder Capital Returns and Governance Improvements

CHICAGO, Dec. 17, 2018 /PRNewswire/ -- Marlton LLC ("Marlton"), a significant stockholder of Parks! America, Inc. ((OTC: PRKA) or "Company"), sent a letter this morning to the Board of Directors of Parks! America, Inc. Please find a link to the full letter below.

Marlton LLC, a long-term significant stockholder of Parks! America, Inc., owns approximately 5.04% of the outstanding shares. Marlton acquired a position in the Company because we believe PRKA's public equity trades below its intrinsic value, and that PRKA has opportunities readily within the control of the Board to substantially increase stockholder value through changes in capital allocation and corporate governance.

We approached the PRKA Board privately, multiple times, regarding a detailed plan we provided in October of 2018 to maximize the potential of the Company's assets. Since then we have heard no material feedback from the full Board regarding our detailed suggestions, or even received any acknowledgement that the Board was considering our suggestions in good faith. We are concerned the Company is making no progress towards adopting a reasonable capital allocation plan or pursuing avenues to maximize long-term stockholder value. It is incumbent upon the members of the Board to fulfill their fiduciary obligations to PRKA stockholders and initiate a process to explore all alternatives to create stockholder value.

In our letter, we outlined a proposed change in capital allocation and corporate governance that we believe is needed to put PRKA on a path that will reward stockholders:

1. Return of capital of $1,500,000 through either a Special Dividend of $0.0201 per share representing 13.8% of PRKA's market capitalization based on a share price of $0.1451 or a Modified Dutch Auction Tender.
2. Forming a Special Committee of Independent Board Members to explore all strategic alternatives to maximize stockholder value, including the disbursement of a Special Dividend, Modified Dutch Auction Tender and/or the sale of the Company.

Please click the following link to access the full: MARLTON LETTER TO PRKA BOARD

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SOURCE Marlton LLC