Attached files
| file | filename |
|---|---|
| 8-K - TODD SHIPYARDS CORP | v206373_8k.htm |
| EX-2.1 - TODD SHIPYARDS CORP | v206373_ex2-1.htm |
| EX-10.4 - TODD SHIPYARDS CORP | v206373_ex10-4.htm |
| EX-10.6 - TODD SHIPYARDS CORP | v206373_ex10-6.htm |
| EX-99.2 - TODD SHIPYARDS CORP | v206373_ex99-2.htm |
| EX-99.3 - TODD SHIPYARDS CORP | v206373_ex99-3.htm |
| EX-99.4 - TODD SHIPYARDS CORP | v206373_ex99-4.htm |
| EX-10.5 - TODD SHIPYARDS CORP | v206373_ex10-5.htm |
| EX-99.1 - TODD SHIPYARDS CORP | v206373_ex99-1.htm |
Exhibit
99.5
(Form of
Draft Partner Letter)
(Name
Title
Address)
Dear
Partner:
Today is
a big day for Todd Shipyards Corporation and our partners, and I am happy to
share the news with you.
Vigor
Industrial, LLC has made a proposal to acquire all of the shares of Todd
Shipyards Corporation. Today these shares are owned by thousands of people and
are bought and sold on the New York Stock Exchange. Todd’s Board of
Directors has reviewed the Vigor proposal and is recommending to shareholders
that they accept this offer.
If
sufficient numbers of shares are tendered, then the thousands of shareholders
who currently own Todd Shipyards Corporation will transfer their ownership to
Vigor, which is a private company and will be the new owner of
Todd. This ownership will include all of Todd’s subsidiaries,
including Todd Pacific Shipyards Corporation and Everett Shipyard,
Inc.
This sale
will bring together the premier shipbuilding and ship repair companies in
Washington and Oregon to create the largest and most capable marine services
provider in the Pacific Northwest.
All
existing contracts and obligations will remain in place, and all current
leadership will be retained, which should provide some assurance and
continuity.
Our
stronger and more diversified business will produce long-term advantages for our
customers. With our existing facilities in Washington, Vigor adds
significant shipyard and industrial operations in the Portland area, a ship
repair facility in Port Angeles and Tacoma, as well as operations in Bremerton
and Everett.
Uniting
these resources with the capabilities of these two companies will enable us to
expand the scope and capacity of our ship repair and new construction
operations, and our combined experience will provide a level of capability,
quality, efficiency and adaptable skills that will be second to
none.
We are
fortunate to be joining with an ambitious company that understands our business,
has roots in the Pacific Northwest and is oriented towards growth in our
industry. We see this development as the next chapter in a 94-year
success story.
We value
our relationship with you and are excited about the opportunities that this
acquisition will bring for both of us moving forward. Together we
have been able to accomplish great things, and there will be even bigger goals
for us on the horizon.
For your
convenience, I am attaching a copy of the press release. Please
contact ( ______ ) if you have any questions.
Sincerely,