Well, I guess it's better than nothing right. Plenty of micro companies out there that don't really seem to care about their stock price. At least there's some behind the scenes action to improve things. For my part, I'll wait to see some definitive direction before buying PTCH again.
The Committee is
dissatisfied with Pacer's share price performance in recent years and notes
that Pacer's stock has significantly under performed both the Standard &
Poor's ("S & P") 500 Stock Index and the S & P Chemical Index. In the
Committee's view, the current directors and certain members of management
are determined to continue managing Pacer without regard to the best
interests of the shareholders and, therefore, need to be replaced in order
to maximize shareholder value, improve earnings, and restore analysts'
confidence in Pacer. The Committee believes that the individuals it
intends to nominate as directors - D. Jonathan Merriman, Geoffrey Tirman,
James T. Munn, Howard J. Bloom, Allen D. Barnes, and Claude M. Ballard -
possess the expertise and experience necessary to implement an effective
strategic plan for Pacer to maximize shareholder value. The Committee has
retained D.F. King & Co., Inc. to assist it in its solicitation. For a
copy of the Committee's preliminary materials, shareholders may contact
D.F. King & Co., Inc. toll-free at 800/207-2872 |
