WILLIAMSBURG, VA--(Marketwire - Dec 10, 2012) - Dog White Capital LLC today announced that it has delivered a letter to Mr. William F. Welsh, II, the Chairman of the Board of Directors of Ballantyne Strong, Inc., urging the Board of Directors to retain a nationally-recognized investment banking firm to advise on the sale of the company.
The body of the letter follows:
Dear Mr. Welsh:
In response to the ongoing underperformance of the share price of Ballantyne Strong, Inc. (the "Company"), I am writing to urge the Board of Directors to retain a nationally-recognized investment banking firm specializing in small- and mid-cap companies to advise on the sale of the Company.
The current share price simply does not reflect the Company's significant cash holdings, its absence of debt and its market leading positions in those business segments in which it competes. I believe that an auction of the Company would elicit significant interest from industry participants and media-focused private equity firms alike, resulting in a sale at a substantial premium to the current share price.
I have extensive experience in public company mergers and acquisitions transactions and would welcome an opportunity to meet with you to discuss the sale process that I envision for the Company. I will contact you shortly with the hope of arranging such a meeting.
/s/ Steven G. Thompson
Steven G. Thompson,
- Investment & Company Information
Steven G. Thompson