A. M. Castle Reaches Agreement With Raging Capital On Composition Of Board

(RTTNews) - A. M. Castle & Co. (CAS), a global distributor of specialty metal and supply chain solutions, announced that it has reached an agreement with Raging Capital Management, LLC on the composition of the Company's Board of Directors and matters relating to the 2016 annual meeting of shareholders.

As per the terms of the settlement agreement with Raging Capital, the Board has agreed to nominate Richard N. Burger and Michael Sheehan for election as Class III directors at the Company's 2016 annual meeting of shareholders scheduled to be held on July 27, 2016.

The Board has also agreed to nominate Director Gary A. Masse for re-election as a Class III director at the 2016 Annual Meeting. Chairman Brian P. Anderson and Director Reuben S. Donnelley will not stand for re-election at the 2016 Annual Meeting; both will continue to serve until the 2016 Annual Meeting. The Board has agreed to appoint Gary Masse as Chairman, effective immediately. In connection with this agreement, Raging Capital has agreed to certain standstill, voting and support commitments.