SCOTTISH HERITABLE ANNOUNCES DIRECTOR'S RESIGNATION
SCOTTISH HERITABLE ANNOUNCES DIRECTOR'S RESIGNATION FAIRFAX, Va., Nov. 1 /PRNewswire/ -- Scottish Heritable, Inc.
(NASDAQ: SHER), (SHI) announced today that William C. Jennings, an independent director, has resigned from its board of directors.
The duties of a previously formed special committee of which Jennings was a member will be undertaken by the entire board of directors. The board will consider all available alternatives including, but not limited to, a restructuring of existing bank debt and/or securing additional equity financing, or seeking to sell the company or all or certain of its businesses or assets. An investment banking firm is being retained to assist the board of directors in this regard. -0- 11/1/91 /CONTACT: Peter C. Timms of Scottish Heritable, 703-207-9702/ (SHER) CO: Scottish Heritable, Inc. ST: Virginia IN: SU: PER JT -- NY088 -- 0466 11/01/91 18:40 EST
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|Date:||Nov 1, 1991|
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