On January 11, 2019, Crescendo Partners L.P. and Jamarant Capital L.P. announced that they have delivered a letter to the Board of Directors of Stuart Olson Inc. In the letter, Crescendo Partners stated that it has initially sent a letter to the Company on October 12, 2018 and requested a private meeting with Albrecht Bellstedt, the Chairman of the Board, and other independent board members. Crescendo Partners added that it has requested the meeting because it views, and continue to view, that the Company is trading at a significant discount to its intrinsic value and it wanted to share its thoughts on ways in which the value gap may be closed. Crescendo Partners also stated that it currently intends to nominate 1 or more directors at the 2019 annual general meeting pursuant to the advance notice by-law of the Corporation. Crescendo Partners expressed its view that the Company has a unique opportunity to sell itself at a very attractive valuation. Crescendo Partners recommended that the Board of the Company publicly announce the commencement of a thorough review of strategic alternatives immediately.