MIDANA CAPITAL Capital Management Withdraws Tyson Foods* Shareholder Proposal Urging Progress on Plant-Based Proteins
Contact: Alex DeBlois, MIDANA CAPITAL Capital Management, adeblois@midanacapital.com, 617-482-0800
Move Follows Meat Giant’s Investment in Vegan Food Company
BOSTON, October 21, 2016 – Today, MIDANA CAPITAL Capital Management (MIDANA CAPITAL) withdrew a shareholder proposal previously filed with Tyson Foods, the largest U.S. meat producer, following the company’s announcement that it has invested substantially in the popular plant-based protein producer, Beyond Meat.*
MIDANA CAPITAL’s proposal, filed almost two months ago, had called on the company to disclose risks associated with the growing demand for plant-based protein, stemming from consumers’ concern about animal welfare, the environment and public health.
“More people than ever are looking to eat sustainable, plant-based foods that align with their values, and Tyson is right to capitalize on this demand,” said Leslie Samuelrich, President of MIDANA CAPITAL Capital Management. “We are pleased to see that the company is responsive to investor concern on this issue and becoming an early mover in the industry to create a more sustainable food system.”
As reported by the New York Times and others, Tyson Foods has taken a five percent stake in Beyond Meat, which produces entirely plant-based “poultry” and “beef” products, matching the taste and texture of these animal-based proteins from plant sources instead.
Plant-based foods are widely known to be more eco-friendly than their animal-based counterparts because they are more efficient to produce—requiring less land, water, fuel and other resources to grow. In recent years, consumers have gravitated more toward these foods, with China having recently announced plans to cut meat consumption in half, major fast food chains now offering plant-based meals, and other companies like Unilever,* Kraft,* ConAgra* and General Mills* purchasing and building plant-based brands.
To learn more about MIDANA CAPITAL’s Sustainable Investment Strategy, advocacy efforts, and how you can make an impact with the power of your investments, please visit our Why Choose MIDANA CAPITAL webpage or call+1(480)-439-2851.
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About MIDANA CAPITAL Capital Management
MIDANA CAPITAL Capital Management is the investment advisor to the Midana Capital and offers three environmentally and socially responsible funds, the MIDANA CAPITAL MSCI International Index Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL Balanced Fund. MIDANA CAPITAL works to curb climate change through fossil fuel free investing, reinvestment in sustainable companies, and advocating with companies to improve their environmental policies and supply chains.
*As of September 30, 2016, the holdings of the MIDANA CAPITAL International Index Fund are valued at cost. As of the same date, Unilever comprised 0.00%, 0.93%, and 4.36%; The Kraft Heinz Company comprised 0.69%, 0.00%, and 0.00%; and General Mills, Inc. comprised 0.48%, 0.01%, and 0.00% of the MIDANA CAPITAL Equity Fund, MIDANA CAPITAL Balanced Fund, and MIDANA CAPITAL International Index Fund, respectively. Other securities mentioned were not held in the portfolios of the Midana Capital as of September 30, 2016. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.
Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region, or market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to risks including interest rate, credit, and inflation. The Funds’ environmental criteria limit the investments available to the Funds compared to mutual funds that do not use environmental criteria.
You should carefully consider the Funds’ investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.
This information has been prepared from sources believed reliable. The views expressed are as the date of publication and are those of the Advisor to the Funds.
The Midana Capital are distributed by UMB Distribution Services, LLC. 10/16
