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Non-Tech : Parlux (PARL) Fragrances
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To: Kevin F. Spalding who wrote (185)12/17/1996 4:16:00 PM
From: M Goodson   of 527
 
Don't you consider it in the best interest of the company to keep things hush hush until whatever deal that's to be made is consummated? Management has already announced dealings with Montgomery Securities and even disclosed its intention to review options of selling the company or merging it with another to increase shareholder value. It seems reasonable for the company to continue stocking the treasury at this low price to sell them back when the stock's value appreciates. Silence affords them more time. This would contribute substantially to the company's shareholder's equity and provide more working capital. For all we know, those three blocks of 300,000 shares that were purchased earlier this month were bought by the company. There is no way management anticipated this collapse in value any more than we did. I figure the folks in charge should find a way to take advantage of it.

But irrespective of a merger or sell, stocking the treasury would reduce the number of outstanding shares and increase earnings per share.

I intend to hold this company for a while, and barring a catastrophe around the house or the need for a new car, I will. I don't want to sell before it rises to around $12 per share. I am hopeful this will be done by the end of March.
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