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SCHEDULE 14A
(Rule 14A-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
Filed by the Registrant [X]
Filed by a party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement [ ] Confidential, For Use of the Commission Only
[ ] Definitive Proxy Statement as permitted by Rule 14a-6(e) (2))
[ ] Definitive Additional Materials
[X] Soliciting Material Pursuant to Rule 14a-12.
DAIRY MART CONVENIENCE STORES, INC.
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(Name of Registrant as Specified in Its Charter)
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(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on the table below per Exchange Act Rule 14a-6(i)(1) and 0-11.
(1) Title of each class of securities to which transaction applies:
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(2) Aggregate number of securities to which transaction applies:
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(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):
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(4) Proposed maximum aggregate value of transaction:
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(5) Total fee paid:
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[ ] Fee paid previously with preliminary materials:
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[ ] Check box if any part of the fee is offset as provided by Exchange
Act Rule 0-11(a)(2) and identify the filing for which the offsetting
fee was paid previously. Identify the previous filing by registration
statement number, or the form or schedule and the date of its filing.
(1) Amount previously paid:
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(2) Form, Schedule or Registration Statement No.:
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(3) Filing Party:
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(4) Date Filed:
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NEWS RELEASE
FOR IMMEDIATE RELEASE
CONTACT: Stanley J. Kay
MacKenzie Partners, Inc.
(212) 929-5940
DAIRY MART TO VIGOROUSLY OPPOSE
PROXY CONTEST THREATENED BY FIRED EX-CEO
HUDSON, OH, April 20, 2000 - Dairy Mart Convenience Stores, Inc. (AMEX: DMC)
today announced that a small group of disgruntled shareholders led by former
Dairy Mart President and Chief Executive Officer, Frank Colaccino, plans to
commence a proxy contest to take control of Dairy Mart's Board of Directors at
the Company's 2000 annual meeting, currently scheduled for May 25, 2000.
Robert B. Stein, Jr., Chairman, President and Chief Executive Officer of Dairy
Mart, stated, "Dairy Mart's Board of Directors and management team are united in
their opposition to these dissident nominees and plan to aggressively fight to
re-elect the incumbent Board."
Mr. Stein continued, "In 1994, the Dairy Mart Board relieved Mr. Colaccino of
his duties as President and Chief Executive Officer. He has been out of the
industry for six years and he and his group, which hold less than 2% of Dairy
Mart's stock, has not proposed any real or viable business plan. His positions
now are not compelling or credible. We firmly believe that the best interests of
our shareholders can best be realized by the re-election of the incumbent board
and by allowing current management the opportunity to move forward with our
business plan."
Dairy Mart Convenience Stores, Inc. was named "Convenience Store Chain of the
Year", a national industry honor presented by Convenience Store Decisions
magazine. The company owns or operates approximately 600 retail stores in seven
states in the U.S. Through consulting and licensing agreements, the company is
also affiliated with more than 200 stores in Korea and approximately 400
locations in Malaysia. For more information, visit Dairy Mart's web site at
www.dairymart.com.
A definitive proxy statement and form of proxy prepared by the Company,
containing information regarding the nominees for director supported by the
Company, each participant's interest in the Company and information regarding
MacKenzie Partners, the Company's proxy solicitation firm, will be furnished to
shareholders in the Company's definitive proxy statement. Shareholders are urged
to read the proxy statement carefully as it will contain important information
about the Company nominees. The definitive proxy statement will be available on
the SEC's Internet site at http://www.sec.gov. In addition, the Company will
provide to any requesting shareholder additional copies of the definitive proxy
statement and form of proxy as soon as they are available. Requests for any such
materials should be directed to MacKenzie Partners at their toll free number:
(800) 322-2885.
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