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Stock Market & Financial Investment News

News Breaks
January 4, 2012
06:59 EDTBTNBallantyne Strong sees asset sales resulting in gain, also sees Q4 charge
Ballantyne expects the net financial impact of the sale of its building and equipment to result in a gain, however, it also expects to record a pre-tax severance charge of approximately $900,000 in Q4 2011.
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April 22, 2015
08:09 EDTBTNBallantyne Strong settles proxy contest with Fundamental Global Investors
Ballantyne Strong and Fundamental Global Investors announced the settlement of FGI’s proxy contest. Key terms of the settlement are as follows: The Board of Directors will be expanded from seven members to nine members; Five of the members of the Board of Directors will come from FGI’s slate of proposed directors: D. Kyle Cerminara, William Gerber, Charles Lanktree, Robert Marino, and Robert Roschman; Four of the members of the Board of Directors will come from incumbent directors of Ballantyne Strong: Samuel Freitag, James Shay, Marc LeBaron, and Gary Cavey; At least two of the incumbent directors will serve on all committees of the Board of Directors for two years; FGI and certain of its affiliates and associates agree not to acquire, in the aggregate, beneficial ownership of more than 20% of the outstanding shares of common stock of Ballantyne Strong for two years; The company will amend its Shareholder Rights Plan to expire within five business days after the date hereof without any consideration being paid to the holders of the rights thereunder.

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