Addington Resources, Inc. adds four directors; Special Committee to consider founders' proposal.ASHLAND, Ky.--(BUSINESS WIRE)--April 3, 1995--The Board of Directors of Addington Resources, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market: ADDR ADDR Address ADDR Addressed (stamp and envelope collecting) ADDR Air Data Dead Reckoning ), an integrated waste management, mining services and minerals company, announced today that it has appointed four new members to its Board of Directors. Three of the new directors have been appointed to the Special Committee comprised entirely of outside directors to consider a proposal made by the Company's founder, Larry Addington, and his brothers, Robert Addington and Bruce Addington, to acquire all of the company's non-environmental subsidiaries. The Special Committee will also manage the business and affairs of the Company's environmental operations. The four new directors are: Howard P. Berkowitz, the managing general partner of HPB HPB Health Promotion Board (Singapore) HPB Hrvatska Poštanska Banka (Croatian Post Bank) HPB Half Price Books (retail store) HPB High Ping Bastard Associates, L.P.; Richard Ravitch Richard Ravitch (1933 - present) is a business and civic leader from New York City. Early life Richard Ravitch was born in 1933, the son of Saul and Sylvia Ravitch. Saul's parents had fled Tsarist Russia to come to America, and ran a construction business. , the chairman of Aquarius Management Corporation; Steven D. Weinress, an investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. with L.H. Friend, Weinress and Frankson; and Robert Anderson, the former chairman of Andalex, an integrated coal mining company. The Special Committee is currently comprised of five outside directors: Messrs. Berkowitz (chairman), Ravitch, and Weinress and Jack C. Fisher and Carl R. Whitehouse. CONTACT: Addington Resources, Inc., Ashland R. Douglas Striebel, 606/928-3433 |
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