Stillwater Calls on Clinton Group and Dr. Charles Engles to Publicly Disclose Reasons for Dr. Engles’s Abrupt Resignation in 1997

BILLINGS, Mont.–(BUSINESS WIRE)– Stillwater Mining Company (NYS: SWC) (TSX:SWC.U) (“Stillwater” or the “Company”) today called on the Clinton Group, Inc. and Dr. Charles Engles, former Stillwater Chairman and Chief Executive Officer and a current director nominee of the Clinton Group, to publicly disclose the reasons surrounding his abrupt resignation from Stillwater in 1997 just two and half years after appointment to the position.

On February 21, 1997, Stillwater issued a press release announcing Dr. Engles’s resignation as Chairman and Chief Executive Officer of the Company without providing any context or explanation and at a time when the Company was struggling.

Stillwater shareholders deserve an immediate, transparent and forthright explanation by Dr. Engles and the Clinton Group regarding the abrupt resignation. The Clinton Group – which only recently acquired 1.3% of Stillwater’s outstanding shares and has no relevant experience investing in mining companies – is seeking control of Stillwater by nominating a slate of director nominees, including Dr. Engles, to the Stillwater Board.

It is critical that Stillwater shareholders are made aware of the details regarding Dr. Engles’s abrupt resignation given the Clinton Group‘s representation disclosed today that Dr. Engles has been put forward as a CEO candidate in the event it is successful in its takeover of Stillwater.

“If necessary, former CEO and nominee, Charles Engles, can fulfill the role of Interim CEO while a permanent CEO is found”

— Clinton Presentation April 9, 2013

Stillwater today also noted that after it brought to light material inconsistencies in John DeMichiei’s academic record and highlighted the significant labor, safety and environmental issues at Signal Peak under his leadership, Mr. DeMichiei withdrew his name from the Clinton Group slate of nominees.

Stillwater’s Board of Directors has filed definitive proxy materials with the Securities and Exchange Commission (SEC) in connection with the Company’s 2013 Annual Shareholders Meeting, which will be held on May 2, 2013, and all shareholders of record as of March 6, 2013 are entitled to vote at the Annual Meeting. Stillwater encourages all shareholders to carefully review its definitive proxy filing, investor presentation and other materials and vote only their WHITE proxy in advance of the proxy voting deadline. For information about Stillwater’s 2013 Annual Shareholders Meeting, please visit …read more

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