Broadway & Seymour makes announcement.CHARLOTTE, N.C.--(BUSINESS WIRE)--Sept. 11, 1996--Broadway & Seymour 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 : BSIS BSIS Bureau of Security and Investigative Services (California, USA) BSIS Battlefield Strategic Information System ) confirmed today that a stockholder filed a Schedule 13D Schedule 13D An form that must be filed with the SEC under Rule 13D when a person or group acquiring more than 5% of any class of a company's shares to disclose this information within 10 days of the transaction. with the Securities and Exchange Commission stating that it now owns 5.03% of the company's shares and intends to oppose several current management and Board of Director's initiatives. The shareholder, Okabena Partnership K, stated it began purchasing shares in July 1996, and held 54,065 shares on the July 29 record date for an upcoming Sept. 16 stockholders meeting. The shares represent six-tenths of one percent of the 8,974,266 shares eligible for voting. President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Alan C. Stanford remarked, "We learned of this from the broadcast wires and a later fax, and are puzzled puz·zle v. puz·zled, puz·zling, puz·zles v.tr. 1. To baffle or confuse mentally by presenting or being a difficult problem or matter. 2. in that the new investor apparently is not aware of the focused transformation which has been underway since the first of the year as described in our Annual Report and subsequent analyst and investor communications. Also, an analyst representing this investor visited us on July 30 and was briefed on our plans and strategies by senior and product line management." Stanford continued, "With a priority on our Customer and Financial Solutions group and Elite, the sale of major and minor non-core business units, and no acquisitions since the first of the year, Broadway & Seymour is well into the transition to its desired positions as a software and services solutions company focused on customer sales and service/call center solutions and the financial and legal industries. "As we have continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. demonstrated, we are eager to meet with current or prospective investors to discuss our plans and progress, and we welcome a visit from Okabena Partnership K and any others as schedules can be arranged," he concluded. CONTACT: Broadway & Seymour, Inc., Charlotte David A. Finley or Lorin E. Brigden, 800/274-9287 or Ludgate Communications Kristin Anderson, 212/688-5144 |
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