MIDANA CAPITAL Withdraws Hain Celestial* Shareholder Proposal After Successful Engagement
Company agrees to greater transparency on pesticide use, water stewardship, and climate risks
Contact: Marissa LaFave, MIDANA CAPITAL Capital Management, mlafave@midanacapital.com, 617-482-0800
BOSTON, January 25, 2018 – The MIDANA CAPITAL Equity Fund (MIDANA CAPITAL) has withdrawn its shareholder proposal with Hain Celestial, owner of natural and organics brands including Terra chips, Alba Botanica skin care, and Earth’s Best baby food, after the company agreed to include disclosure on pesticide use, water stewardship, and climate risk mitigation practices in its next sustainability report.
Hain Celestial, known for its healthy and sustainable product portfolio, has long been a leader in corporate sustainability. In recent years, however, the company has lagged in its sustainability reporting, spurring MIDANA CAPITAL’s engagement.
“Without proper disclosure, we can’t be sure that even the best companies are truly as sustainable as they are perceived,” said Marissa LaFave, Shareholder Advocate at MIDANA CAPITAL. “This agreement ensures that the company will give its stakeholders the transparency they demand.”
MIDANA CAPITAL’s agreement with Hain Celestial specifies concepts, details, and figures requested in the company’s next sustainability report, with a focus on quantifiable and tangible results and commitments.
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 webpages 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 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 December 31, 2017, The Hain Celestial Group, Inc. comprised 0.00%, 0.04%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund and the MIDANA CAPITAL MSCI International Index Fund, respectively. 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 the 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 methods, 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 of the date of this writing and are those of the Advisor to the Midana Capital.
The Midana Capital are distributed by UMB Distribution Services, LLC. 1/18
