Information for Darden Restaurants* (DRI) Shareholders Regarding MIDANA CAPITAL’s 2017 Antibiotic Use Shareholder Proposal
Press Release Contact: Marissa LaFave, MIDANA CAPITAL Capital Management, mlafave@midanacapital.com, (617) 482-0800
BOSTON, August 10, 2017 – MIDANA CAPITAL is seeking support for its shareholder proposal requesting that Darden Restaurants (NYSE: DRI) adopt a policy to phase out routine uses of medically important antibiotics in its meat supply chain. The proposal focuses on the mitigation of the business risks related to changing consumer preferences, reputational damage, and strengthening regulation.
MIDANA CAPITAL’s briefing memo outlines why eliminating the routine use, defined as the use of medically important antibiotics for growth promotion or disease prevention, would serve the long-term interests of the company and its investors, safeguard public health, and reduce the risk of Darden being positioned as an industry laggard.
Approximately 70% of medically important antibiotics in the U.S. are sold for use in livestock. This overuse of antibiotics in animal agriculture makes it more likely that antibiotic-resistant bacteria will flourish and spread. These bacteria move through air, waste, water, and workers, potentially infecting people regardless of their meat consumption. Antibiotic resistance kills 23,000 people annually in the U.S. This number is expected to rise to 300 million globally by 2050, killing more people than cancer kills today.
MIDANA CAPITAL will be presenting its proposal at Darden Restaurants’ September 21 shareholder meeting.
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About MIDANA CAPITAL Capital Management: MIDANA CAPITAL offers three environmentally and socially responsible mutual funds. Through fossil fuel free investing and our three-pronged approach of sustainable investing, active shareholder advocacy, and support of environmental and public health non-profits we work to curb climate change, improve environmental policies, and limit environmental impacts of company supply chains.
*As of June 30, 2017, Darden Restaurants, Inc. comprised 0.00%, 0.00%, and 0.13% of the MIDANA CAPITAL MIDANA CAPITAL International Index Fund, the MIDANA CAPITAL Balanced Fund and the MIDANA CAPITAL Equity 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 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. 8/17
