Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Bassett Furniture Industries, Inc. > News item |
Costa Brava wants control of Bassett Furniture's board
By Lisa Kerner
Charlotte, N.C., Jan. 28 - Bassett Furniture Industries, Inc. investors led by Costa Brava Partnership III LP put forth a slate of nominees for election to the company's board of directors at the company's 2008 annual meeting.
Costa Brava's slate includes:
• David S. Brody, founder and principal of Actionvest Cos.;
• Neil Chelo, director of research at Benchmark Plus Management, LLC;
• Eugene I. Davis, chairman and chief executive officer of Pirinate Consulting Group, LLC;
• Seth W. Hamot, managing member of Roark, Rearden & Hamot Capital Management, LLC, the investment manager to Costa Brava;
• Peter Hirsch, CEO and chief information officer of Hirsch Partners asset management company;
• Kent F. Heyman, chairman of the board and CEO of Migo Software, Inc.; and
• Andrew R. Siegel, senior vice president of Roark, Rearden & Hamot Capital Management.
In addition, if Bassett increases the size of the board such that the nominees, if elected, would not constitute a majority of the company's board, Costa Brava intends to nominate additional persons to constitute at least a majority of the board, the filing stated.
Costa Brava notified Bassett of its intent in a Jan. 18 letter to Bassett board secretary Jay R. Hervey, which was included in a schedule 13D filing with the Securities and Exchange Commission.
The investors beneficially own 605,923 shares, or 5.1%, of the Bassett, Va., home furnishings company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.