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News Breaks
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November 18, 2009
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| 05:55 EDT |  | WEDC |
| theflyonthewall.com: | Desert Equity raises White Electronic Designs stake to 19.1% from 19% | | On November 16, 2009, the company and Desert Equity entered into Amendment No. 2 to the settlement agreement. The second settlement amendment terminates the settlement amendment and amends the settlement agreement to allow Desert to purchase or acquire up to 35% of the issued and outstanding shares of common stock, excluding equity-based grants to Kahn as a result of board service. Under the second settlement amendment, Desert have agreed to vote at the company’s 2010 annual shareholders’ meeting, all shares of common stock beneficially owned by them for each of the company’s nominees for election to the company’s board, and until two business days following the company’s 2010 annual shareholders’ meeting, to vote and cause their respective officers, directors, employees, representatives and agents to vote any shares of common stock beneficially owned by them in connection with any matter or proposal submitted to a vote of the company’s shareholders as recommended by a majority of the members of the company’s board. :theflyonthewall.com |
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