The Stilwell Group Launches Proxy Contest for Board Seat at Wayne Savings Bancshares

NEW YORK, Feb. 27, 2018 /PRNewswire/ -- The Stilwell Group, the largest stockholder of Wayne Savings Bancshares, Inc. (OTC: WAYN) ("WAYN" or the "Company"), today announced that it has launched a proxy contest for a seat on the Company's Board of Directors (the "Board") and has delivered an open letter to WAYN stockholders. The Stilwell Group will seek to gain Board representation at WAYN's upcoming 2018 annual meeting and work to maximize stockholder value at the Company. The Stilwell Group nominated a director candidate for election at the Company's 2017 annual meeting and lost by approximately 1% of the votes. The Stilwell Group believes there have been multiple suitors interested in acquiring WAYN, and that the Company has a duty to evaluate all strategic alternatives to maximize stockholder value.

To access The Stilwell Group's letter to WAYN stockholders, and its proxy statement, including information about its board nominee and alternate nominee, please visit the link below.


Investor Contacts:
The Stilwell Group
Megan Parisi
(917) 881-8076

Investors with questions on how to vote, please contact:
Okapi Partners LLC
Teresa Huang
(212) 297-0720 or Toll-Free (855) 208-8903

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SOURCE The Stilwell Group