-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KWYh8asYdRyHsJ7f4dVLvdydUQl0YEI7qFx303ibiqm+KULVkm1PbR1WZQqF+Gxd tKxySxVPyY8UOO9PW8Vffg== 0000930413-03-002053.txt : 20030630 0000930413-03-002053.hdr.sgml : 20030630 20030630160640 ACCESSION NUMBER: 0000930413-03-002053 CONFORMED SUBMISSION TYPE: DFAN14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030630 EFFECTIVENESS DATE: 20030630 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HERCULES INC CENTRAL INDEX KEY: 0000046989 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS CHEMICAL PRODUCTS [2890] IRS NUMBER: 510023450 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DFAN14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-00496 FILM NUMBER: 03764501 BUSINESS ADDRESS: STREET 1: 1313 N MARKET ST STREET 2: HERCULES PLZ CITY: WILMINGTON STATE: DE ZIP: 19894 BUSINESS PHONE: 3025945000 MAIL ADDRESS: STREET 1: HERCULES PLAZA STREET 2: RM 8151 NW CITY: WILMINGTON STATE: DE ZIP: 19894-0001 FORMER COMPANY: FORMER CONFORMED NAME: HERCULES POWDER CO DATE OF NAME CHANGE: 19680321 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HERCULES SHAREHOLDERS COMMITTEE FOR NEW MANAGEMENT CENTRAL INDEX KEY: 0001223694 FILING VALUES: FORM TYPE: DFAN14A BUSINESS ADDRESS: STREET 1: C/O INTERNATIONAL SPECIALTY PRODUCTS INC STREET 2: 1361 ALPS RD. CITY: WAYNE STATE: NJ ZIP: 07470 BUSINESS PHONE: 2128211600 MAIL ADDRESS: STREET 1: C/O INTERNATIONAL SPECIALTY PRODUCTS INC STREET 2: 1361 ALPS RD. CITY: WAYNE STATE: NJ ZIP: 07470 DFAN14A 1 c28637_dfan14a.txt AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JUNE 30, 2003 ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO.) Filed by the Registrant [ ] Filed by a Party other than the Registrant |X| Check the appropriate box: [ ] Preliminary Proxy Statement [ ] Confidential, For Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) [ ] Definitive Proxy Statement |X| Definitive Additional Materials [ ] Soliciting Material Pursuant to Rule 14a-12 HERCULES INCORPORATED (Name of Registrant as Specified in Its Charter) THE HERCULES SHAREHOLDERS' COMMITTEE FOR NEW MANAGEMENT (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 table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (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): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: [ ] Fee paid previously with preliminary materials. [ ] 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: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: ================================================================================ NEWS RELEASE - -------------------------------------------------------------------------------- Hercules Shareholders' Committee For NEW Management * 17 State Street * New York, New York 10004 Contact: Chris Hayden 212-440-9850 FOR IMMEDIATE RELEASE NEW YORK--June 30, 2003-- The Hercules Shareholders' Committee For NEW Management announced today that it sent the following letter to Hercules (NYSE: HPC) employees and retirees who own the Company's stock: THE HERCULES SHAREHOLDERS' COMMITTEE FOR NEW MANAGEMENT 17 State Street, New York, NY 10004 June 30, 2003 Dear Hercules Employee Plan Participant: You should know that we have received numerous calls from Hercules employees and retirees who own Hercules stock and have expressed support for our nominees. Others have called to ask very legitimate questions with regard to issues involved in the proxy contest. While we have attempted to spell out our strong disagreement with the way in which Joyce has managed the Company, The Hercules Shareholders' Committee for NEW Management believes that both parties owe you the courtesy of a fully informative meeting which would provide you with the opportunity to hear from both sides. To this end, in a June 16th letter to Joyce, we proposed a discussion between Joyce and a representative of our Committee, which would be open to all Hercules Employee Plan participants, in Wilmington. APPARENTLY, JOYCE BELIEVES THAT HE IS ACCOUNTABLE TO NO ONE - NOT EVEN YOU - BECAUSE, AT LEAST AS OF THE DATE OF THIS LETTER, HE HAS NOT RESPONDED. While we have all been adversely affected as Hercules shareholders by Joyce's mismanagement of the Company in our view, we know that you have a special interest in the outcome of the proxy contest either as employees concerned about the future of your Company and your jobs or as retirees in terms of your pensions and other benefits. ASK YOURSELF: ARE YOU BETTER OFF TODAY THAN YOU WERE WHEN JOYCE CAME TO THE COMPANY TWO YEARS AGO? In doing so, we ask you to consider what has happened at Hercules over the last two years: o More than 1,800 employees have lost their jobs. o Many remaining employees have had their salaries frozen or capped, while Joyce and senior executives continue to receive huge salaries, bonuses, stock grants, and golden parachutes. o Hercules has sold one of its best businesses in our view at the worst possible time - reducing the size of our Company almost in half. o Under Joyce, the Company's pension funds have been invested in accordance with an inappropriate and unduly risky asset allocation policy. As a result, the Company was required last year to take a charge to equity of almost $570 million. o Joyce is essentially a caretaker CEO, with no business strategy and no vision, who is unwilling to make investments for the future in terms of human resources, R&D, and capital expenditures. o The Company under Joyce is in our view in a virtual state of stagnation, and employee morale is at an all-time low. You should be aware of Joyce's history as a manager, for he did the same thing to Union Carbide that he is now doing to Hercules. We believe that voting for the Board's nominees and allowing Joyce to remain at Hercules for another year is like renewing his driver's license on the basis of his poor accident record. Please help end the long nightmare Hercules shareholders and employees have experienced under Joyce and his predecessors. Your vote is all the more important because of the Company's director election Bylaw, which the majority directors claim requires an affirmative vote of a majority of ALL OUTSTANDING SHARES to unseat an incumbent director. This means in effect that A VOTE NOT CAST is the equivalent of A VOTE TO PERPETUATE JOYCE'S TEAM IN OFFICE. Regardless of the number of shares you own, we urge you, in your own best interest, to support our shareholder nominees for election as Hercules directors. PLEASE SIGN, DATE AND RETURN OUR WHITE PROXY CARD TODAY! Sincerely, THE HERCULES SHAREHOLDERS' COMMITTEE FOR NEW MANAGEMENT ---
/s/ Samuel J. Heyman /s/ Harry Fields /s/ Anthony T. Kronman /s/Sunil Kumar - -------------------- ---------------- ---------------------- -------------------- Samuel J. Heyman Harry Fields Anthony T. Kronman Sunil Kumar /s/ Gloria Schaffer /s/ Vincent Tese /s/ Raymond S. Troubh /s/ Gerald Tsai, Jr. - -------------------- ---------------- ---------------------- -------------------- Gloria Schaffer Vincent Tese Raymond S. Troubh Gerald Tsai, Jr.
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