Ergobilt (ERGB) - Ergonomic Chairs Message Board

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Biotech / Medical : Ergobilt (ERGB) - Ergonomic Chairs

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To: Robert DeHaven who wrote (784)	3/25/1998 8:34:00 AM
From: tonto	of 900

Additional release: Tuesday March 24, 6:19 pm Eastern Time ErgoBilt chairman closes margin position DALLAS, March 24 (Reuters) - ErgoBilt Inc. said Tuesday a brokerage firm sold 310,000 of the company's shares to close out Chairman Gerald McMillan's margin position at the firm. The company said in a statement its management team believes the move can put an end to some of the short speculation in the company's stock. The reason for the stock sale is not because of anything to do with the company's current operations or future, ErgoBilt said. In August 1997, McMillan borrowed to buy 500,000 shares of ErgoBilt's stock at $7.80 a share, increasing his position to about 2.5 million shares, the company said. ErgoBilt develops ergonomic products and technology.

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