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No Confidence In The Actions Of Senior Management Of Leeward Group Holdings, Inc.

Shareholders of Leeward Group Holdings, Inc. express thier dissatisfaction in Management.

 
PRLog - Jun. 20, 2011 - PENNINGTON, NJ, June 20, 2011 – Shareholders in Leeward Group Holdings, Inc. a wholly owned subsidiary of Principle Security International, Inc. (OTCQB: PCPZ) have sent a VOTE OF NO CONFIDENCE letter to the current Senior Management and Board of Directors.  This VOTE OF NO CONFIDENCE is in response to the policies, actions, omissions, and failures of the Board of Directors and Senior Management.   Leeward shares are down more than 99%, and is currently trading at $0.0045 off from its 52-week high of $0.80, with very low volume. Leeward has a negative earnings-per-share ratio and have never paid a dividend.  Senior Management has failed to provide reasonable opportunities for Shareholders to participate in the elections of Leeward leadership, including the creation of proxy voting procedures; appoint Board members; publish Board minutes; or hold shareholder meetings. Further Leeward failed to deliver stock certificates to Shareholders in a timely fashion and the stock has been suspended from electronic trading.  The Senior Management has held a tight grip over control of Leeward, and therefore the Board and Senior Management bear the responsibility for Leeward’s poor performance.    
Leeward continues to perform poorly, consistently delivering less than stellar revenue-to-cash flow growth and significantly high debt-to-free-cash flow ratios. Even in this challenging economy Leeward is well positioned for growth, however Senior Management has failed to focused its efforts on shareholder value and ways to increase revenue.  Leeward’s inability to remain intensely focused on executing its strategic plan has left the Shareholders with no other option but to express their dissatisfaction in Senior Management.
The group of Shareholders seeking change at Leeward has invested more than $1,000,000.00 collectively. Further, the Shareholders have retained the counsel of Washington, D.C. attorney William C. Johnson Jr., MBA, LL.M  to explore the possibility of shareholder derivative action.
It is the opinion of the Shareholders that the integrity and business interest of Leeward (and its Affiliates and subsidiaries: Flagship Insurance Agency; Brady-Rogers, Inc.; American Bar Insurance Plans Consultants, Inc.; and Platinum Leisure Risk Purchasing Group, Inc.) will be better served through a change of leadership.  
Forward-looking statements:
This press release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to that the company may: that our social media networks will provide shareholders with an understanding of our industry and business model, or that it will be an effective means to communicate our company's message; or that our investor relations section of our website will be an effective means to communicate our company's information. The user should read statements that contain these words carefully because they discuss future expectations, contain projections of future results of operations or of financial condition, or state other forward-looking information. The risk factors listed in our disclosure documents provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations and projections described by the Company in its forward-looking statements. Actual results relating to, among other things, reserves, results of exploration, capital costs and production costs could differ materially from those currently anticipated in such statements. Factors affecting forward-looking statements include: changes in anticipated acquisition and operating costs; changes in economic conditions and conditions in the insurance industry and other financial markets; changes in the interest rates on borrowings; hedging activities; changes in the prices for services that the Company provides; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which the Company operates; technological, mechanical and operational difficulties encountered in connection with the Company's activities; and labor relation matters and costs. The user should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by the Company from time to time with the Securities and Exchange Commission and other regulatory authorities.
Contact:
Leeward Group Holdings, Inc.
65 S. Main Street, Suite A300
Pennington, NJ 08534
Phone: (888) 392-6671
www.leewardgroup.com
AND
Shareholders are represented by:
William C. Johnson, Jr. Esq., MBA, LL.M
1229 15th St. NW
Washington, D.C. 20005
(800) 394-0498 ext. 1

# # #

Leeward Group Holdings, Inc. is a full-service insurance agency & consulting firm serving the insurance needs of clients throughout the United States that trades publicaly on OTCQB.

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Contact Email:
***@landescapital.net Email Verified
Source:Leeward Shareholders
Phone:(877) 352 4467
Zip:10530
City/Town:Hartsdale - New York - United States
Industry:Business, Insurance
Tags:insurance, management, otcqb, sec, Board of Directors, shareholders, new england, shareholder equity, stock price
Shortcut:prlog.org/11549385
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