WILLIAMSBURG, VA — (Marketwire) — 12/10/12 — 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.
Sincerely yours,
/s/ Steven G. Thompson
Steven G. Thompson,
President
CONTACT:
Steven G. Thompson
(757) 253-5711
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