INCREASED STAKE IN PERFECTDATA CORP.
SUN VALLEY, Calif., Dec. 9 /PRNewswire/ -- The Flamemaster Corp. (NASDAQ-NMS: FAME), and its affiliates have increased their stake in PerfectData Corp. (NASDAQ: PERF), to 1,154,000 shares, or 33.3 percent of the outstanding. In its amended Form 13-D filing with the Securities and Exchange Commission, Flamemaster indicated that it purchased the additional shares of PerfectData in open market transactions at prices ranging from $1.114 to $1.5625. The filing further indicated that the Flamemaster Group now has a controlling interest in PerfectData, and that Joseph Mazin has been elected president and chief executive officer of PerfectData and Bruce Stuart has been elected vice president and special counsel. The filing also indicated that the group may continue to buy shares from time to time. PerfectData Corp. based in Simi Valley, Calif., is a producer of computer and ancillary office equipment, cleaning and maintenance products and a worldwide marketer of computer accessories to the commercial, industrial and home-use markets. Flamemaster Corp. is a specialty chemicals manufacturer of sealants, adhesives and coatings with interests in packaging and metal fabrication. Neither Flamemaster nor PerfectData have any outstanding debt and both have strong balance sheets. -0- 12/9/93 /CONTACT: Joseph Mazin, president, 818-982-1650 or 213-875-1590/ (FAME PERF)
CO: The Flamemaster Corp.; PerfectData Corp. ST: California IN: SU: TNM
EH-JB -- LA021 -- 2177 12/09/93 11:30 EST
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|Date:||Dec 9, 1993|
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