Advanced Marketing Services, Inc. Announces Appointments of Gary M. Rautenstrauch and Robert E. Robotti to the Board of Directors.Company Settles Proxy Contest Proxy contest A battle for the control of a firm in which a dissident group seeks, from the firm's other shareholders, the right to vote those shareholders' shares in favor of the dissident group's slate of directors. Also called proxy fights. SAN DIEGO -- Advanced Marketing Services, Inc. (Pink Sheets:MKTS MKTS Military Knowledge and Testing Standard ) ("the Company"), a leading provider of customized merchandising, wholesaling and contract distribution services, today announced that the Company's Board of Directors has appointed Gary M. Rautenstrauch, the Company's President and Chief Executive Officer, and Robert E. Robotti as directors of the Company. Mr. Robotti has also been appointed to the Board's Governance and Nominating Committee and Compensation Committee. Mr. Robotti is a Managing Member of Ravenswood Management Company, L.L.C., the General Partner of Ravenswood Investment Company, L.P., which, together with certain other affiliated entities and persons, own approximately 7% of the Company's common stock. Mr. Robotti is Managing Director, President and founder of Robotti & Company, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a registered broker-dealer, and Robotti & Company Advisors, LLC, a registered investment adviser. Mr. Robotti is a director of Panhandle Royalty Company, an American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. listed company, where he serves on the audit and compensation committees. The Company also announced that the Company and Mr. Robotti and his affiliates have entered into an agreement in connection with Mr. Robotti's appointment to the Board. As part of the agreement, Mr. Robotti has agreed, subject to certain conditions, to terminate his proxy contest with respect to the Company's annual meeting of stockholders to be held on January 24, 2007. "We are pleased that Bob and Gary have agreed to join the Board, and we look forward to their contributions," said Robert F. Bartlett, the Chairman of the Board. Mr. Robotti added: "We believe that the amicable resolution of our proxy contest with the Company was in the best interest of the Company and its stockholders." ABOUT ADVANCED MARKETING SERVICES Headquartered in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. , the Company is a leading provider of customized merchandising, wholesaling, distribution and publishing services, currently primarily to the book industry. The Company has operations in the U.S., Mexico, the United Kingdom and Australia and employs approximately 1,200 people worldwide. The Company provides a wide range of value-added services that provide its retailer customers with book buying advice, promotional support and expert supply chain management, to ensure the success of their book programs. The Company's proprietary Vendor Managed Inventory Vendor Managed Inventory (VMI) is a family of business models in which the buyer of a product provides certain information to a supplier of that product and the supplier takes full responsibility for maintaining an agreed inventory of the material, usually at the buyer's (VMI VMI Virginia Military Institute VMI Vendor Managed Inventory VMI Vertical Motion Index VMI Valtakunnan Metsien Inventointi (Finnish: National Forest Inventory) VMI Video Module Interface ) software is a unique tool that allows its book specialists to manage efficiently and effectively the book distribution supply chain for the benefit of its membership warehouse club customers. Publishers Group Worldwide (PGW PGW Philadelphia Gas Works PGW Publishers Group West PGW Precision Guided Weapons PGW Payment Gateway PGW Pressure Gas Welding PGW Pesticides in Ground Water PGW Parallel Gap Welding PGW Propylene glycol/water PGW Project on Girls and Women ), an alliance of the Company's global contract distribution operations, provides independent publishers with exclusive full service English language sales and distribution services. Recent public announcements about the Company are available on both the Company's Website, www.advmkt.com, and on Business Wire, www.businesswire.com. Forward-looking statements in this public announcement are made under the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. All statements other than statements of historical fact are forward-looking statements that involve risks and uncertainties. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements including factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. |
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