March 8, 2018 / 9:41 PM / 2 months ago

BRIEF-Davidstea Says Co-Founder Herschel Segal Sent Letter Of Resignation

March 8 (Reuters) - Davidstea Inc:

* DAVIDSTEA SAYS ON MARCH 5, CO-FOUNDER HERSCHEL SEGAL SENT LETTER OF RESIGNATION TO BOARD - SEC FILING

* DAVIDSTEA - SEGAL STATED IN RESIGNATION LETTER THAT HE “HAS BEEN DISAPPOINTED WITH COMPANY’S RECENT PERFORMANCE”

* DAVIDSTEA - ON MARCH 5, LORENZO SALVAGGIO, COO OF RAINY DAY INVESTMENTS, ALSO INFORMED BOARD THAT HE WILL BE STEPPING DOWN

* DAVIDSTEA - ON FEB. 20, SEGAL, ON BEHALF OF RDI, INFORMED CO IT HAS DECIDED TO BEGIN EXPLORING LEADING PRIVATIZATION DEAL FOR CO

* DAVIDSTEA - RDI INDICATED ITS GOAL IS TO PRESENT PROPOSAL FOR OFFER TO BUY OUT MINORITY HOLDERS OF CO OR FOR ALTERNATIVE DEAL BY END OF APRIL

* DAVIDSTEA - RDI ALSO INFORMED IT DOES NOT WANT TO SELL ANY SHARES OF CO AT THIS TIME

* DAVIDSTEA - IN RESPONSE TO RDI, BOARD FORMED SPECIAL COMMITTEE OF INDEPENDENT DIRECTORS TO CONSIDER ANY PROPOSAL TO NEGOTIATE ON BEHALF OF CO

* DAVIDSTEA SAYS SPECIAL COMMITTEE FORMED BY BOARD HAS ENGAGED WILLIAM BLAIR & COMPANY L.L.C. AS ITS OUTSIDE FINANCIAL ADVISOR - SEC FILING Source text: (bit.ly/2HisQFL) Further company coverage:

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