SALEM – In connection with the annual meeting of stockholders, the Board of Directors of Mid-Southern Bancorp, Inc. is proud to announce that leading independent proxy advisory firms, Glass Lewis & Co. and Institutional Shareholder Services, Inc., recently recommended that stockholders vote AGAINST the stockholder proposal recommending the engagement of an investment banking firm to sell the Company.
Officials urge you to vote AGAINST the stockholder proposal by signing, dating, and returning the proxy card for the Annual Meeting.
The Board of Directors believes that the stockholder proposal is unnecessary and not in the best interests of the Company or its stockholders. They believe that actively seeking a buyer would be a distraction to the Company and may damage our reputation with our clients by creating uncertainty.
In addition, due to the current state of volatility in the capital and credit markets and uncertainty with respect to the health of the U.S. banking system, we believe that the current market is an especially inopportune time to explore a sale of the Company.
If you have any questions or need assistance in voting your shares, please contact our proxy solicitation agent Alliance Advisors toll-free at 1-888-490-5076. Officials appreciate your prompt attention to this matter and your continued support of and interest in our Company.
About the Company
Mid-Southern Bancorp, Inc. is the parent of Mid-Southern Savings Bank, FSB. The Bank is a federally chartered savings bank headquartered in Salem, Indiana, approximately 40 miles northwest of Louisville, Kentucky. The Bank conducts business from its main office in Salem and through its branch offices located in Mitchell and Orleans, Indiana, and loan production offices located in New Albany, Indiana, and Louisville, Kentucky.
