Allen-Vanguard Rescue Board Message Board

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Technology Stocks : Allen-Vanguard Rescue Board

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From: kidl	10/5/2009 12:57:12 PM
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I just went through the latest release again and something caught my attention. From the NR: "On September 12, 2009, the Company announced that it had entered into a binding agreement (the "Transaction Agreement") with an affiliate of Versa Capital Management, Inc. ("Versa"), a Philadelphia-based private equity investment firm, and the Company's senior lenders (the "Lenders"), pursuant to which investment affiliates of Versa will become the 100% owner of the Company and Allen-Vanguard will complete a recapitalization to comprehensively resolve its current financial concerns (the "Transaction")." And then this: "There are no agreements or arrangements in place between Versa and any directors, officers or employees of the Company regarding any direct or indirect participation by such directors, officers or employees in the equity of the Company going forward or regarding their role with the Company, or their employment or compensation arrangements, after closing." So, this clearly states that there are no "deals" with Versa BUT what about the unnamed affiliates of Versa??? Just food for thought ...

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