Brad D. Greenspan, Largest Holder Of eUniverse Stock, Commits to Continue to Hold at Least 6,500,000 of His Shares If His Nominees Are Elected at Annual Meeting Proxy Contest.Business Editors LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--Jan. 27, 2004 Brad D. Greenspan, the largest holder of voting stock Voting stock The shares in a corporation that entitle the shareholder to vote. voting stock Stock for which the holder has the right to vote in the election of directors, in the appointment of auditors, or in other matters brought up at the of eUniverse, Inc. ("eUniverse" or the "Company") (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : EUNI EUNI Ethernet Uni .PK), who is waging a 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. at the Company's January 29, 2004 Annual Meeting in support of his nominees for election as Director, announced today his commitment to continue to hold at least 6,5000,000 of his eUniverse shares if his nominees are elected. Mr. Greenspan commented, "I am very concerned with the prospects for eUniverse's business going forward if the incumbent directors remain. As the largest stockholder, I am greatly concerned by the incumbent Board's actions, particularly with respect to the VantagePoint financing transaction which is oppressive to the common stockholders and not in the best interests of the Company's stockholders as a whole. Mr. Greenspan continued, "However, I still believe that the future of eUniverse would be bright under the direction of a new Board that represents the interests of all stockholders, including the common stockholders. Accordingly, I am putting my money where my mouth is - if my nominees are elected then I believe the business risk of eUniverse is reduced and I will continue to hold the vast majority of my stock -- at least 6,500,000 shares of common stock -- for at least 6 months after the election of my nominees." Stockholders can fax their BLUE proxy cards A proxy card is an easily-acquired or home-made substitute for a collectible card. A proxy is used when a collectible card game player does not own a card, and it would be impractical for such purposes to acquire the card. to Innisfree M&A Incorporated at 212-750-5799. Shareholders may also call Innisfree M&A Incorporated with questions or requests for assistance in voting their shares, toll-free, at 1-888-750-5834. |
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