FAMH news:
Tuesday March 31, 12:56 pm Eastern Time
Company Press Release
Firamada, Inc.: Large Shareholders of Atrix International, Inc. Tell Current Management, "Let Shareholders Decide The Future of Atrix"
MINNEAPOLIS and NEW YORK--(BUSINESS WIRE)--March 31, 1998--The following is a news release issued by Firamada, Inc.:
Firamada, Inc. (OTC BB: FAMH - news), which has recently acquired approximately 5% of the outstanding shares of Atrix International, Inc. (NASDAQ: ATXI - news), and at least one other major shareholder, have independently informed Atrix management that they are less than pleased with Atrix management's lackluster performance.
Further, Firamada said it has indicated that it plans to inform Atrix that it expects immediate Atrix board representation by having a minimum of three people of Firamada's choice named to the Atrix board of directors. Ira Monas, president of Firamada, stated, ''New leadership and innovation would help all shareholders of Atrix International. The present management has not done enough to maximize shareholder value and has been unreceptive to suggestions on ways to increase the value of Atrix stock. New blood and new ideas are needed to turn the company around.'' Also, according to Firamada Inc., certain other major shareholders, when informed of Firamada's intentions, concurred with the need for a change in the direction of Atrix's future. |
