Haights Cross Communications announces agreement with shareholders
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- July
- 6
Haights Cross Communications, a White Plains-based publisher of educational and library products, has made a deal with its key investors that would simplify its stock structure, remake its board of directors and dismiss a lawsuit by certain shareholders that was filed in March.
If the agreement is completed, holders of the company’s Series B Senior Preferred Stock would own about 82 percent of the outstanding shares of common stock. Current holders of Series A and Series C Preferred Stock would own 15 percent of outstanding shares. Management would own the remaining 3 percent.
Also, a new six-member board of directors would by led by current Chairman and Chief Executive Officer Peter J. Quandt and include five other people designated by former Series B and Series A shareholders. In addition, the Series B shareholders would drop their legal action.
This entry was posted
on Friday, July 6th, 2007 at 4:34 pm by Julie Moran Alterio.
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