On January 13, 2019, Stuart Olson Inc. issued response to the public release of a January 11, 2019 letter from Crescendo Partners L.P. and Jamarant Capital L.P. in which the 2 affiliated firms disclosed their intention to nominate one or more directors at the Company's 2019 annual general meeting. The Company stated that it welcomes open communications with shareholders and values constructive input toward the shared goal of enhancing value. The Company also stated that it has had ongoing dialogue with these shareholders for the past few months. Despite the Company's best efforts to come to a mutually agreeable outcome for all shareholders, Jamarant and Crescendo have announced their intention to launch proxy fight. Further, the Company stated that this is not constructive and does not serve the best interests of the Company or its shareholders.