Hanaper Partners Acquires Stake in Plymouth Rubber.NEW YORK--(BUSINESS WIRE)--May 20, 1997--Hanaper Partners today announced that it, along with members of the Propp Family, had acquired a 7.8% stake in the Class A voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. of Plymouth Rubber Company, Inc. of Canton, Mass. (AMEX AMEX See: American Stock Exchange :PLR PLR pupillary light reflex. .A). Hanaper said that its group had also purchased a position in the Class B nonvoting shares (AMEX: PLR.B). Rodney M. Propp, Co-Chief Investment Officer of Hanaper, said "We are delighted to have had an opportunity to purchase a stake in this well run company at a favorable price. Plymouth is on track in its turn around, has healthy cash flow and has embarked on a program of careful expansion including strategic acquisitions. We have great confidence in Maurice J. Hamilburg, Plymouth's 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. ." Hanaper Partners, L.P., a private hedge fund, invests primarily in small capitalization companies. CONTACT: Hanaper Partners, L.P. Rodney M. Propp Co-Chief Investment Officer 212/752-3910 |
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