Hillson Financial Management, a shareholder in Nasdaq-quoted StealthGas, has released a copy of correspondence in which it called for sweeping changes in the tanker operator.

In a letter addressed to StealthGas chairman Michael Jolliffe, Hillson said the value of its stake in StealthGas had declined 60% since 2005, the year the owner went public.  

Hillson asked: “How can you expect shareholders to continue to tolerate such underperformance without significant changes?”

Jolliffe says the company “totally rejects” the allegations, and has written to Hillson with full details of his reasoning.

In