Ballantyne Strong Shareholder Announces Program To Purchase Additional Shares
Charlotte, NC, March 17, 2020 (GLOBE NEWSWIRE) -- Ballantyne Strong, Inc. (NYSE American: BTN) (the “Company”) today announced that its largest shareholder, Fundamental Global Investors, LLC (“Fundamental Global”) entered into a stock trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “10b5-1 Plan”), for the purchase of up to one million shares of common stock of the Company. The 10b5-1 Plan becomes effective on April 2, 2020 and will terminate on April 2, 2021 or such earlier date as set forth in the 10b5-1 Plan. Transactions under the 10b5-1 Plan, if any, will be reported to the Securities and Exchange Commission in accordance with applicable securities laws, rules and regulations.
Kyle Cerminara, the Chief Executive Officer, Co-Founder and Partner of Fundamental Global, is the Chief Executive Officer and Chairman of the Board of Directors of the Company (the “Board”), and Lewis Johnson, the President, Co-Founder and Partner of Fundamental Global, is the Co-Chairman of the Board. Fundamental Global, with its affiliates, is the Company’s largest stockholder.
About Ballantyne Strong, Inc.
Ballantyne Strong () and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, advertising and government markets.
Investor Contact
Mark Roberson
(704) 994-8279
4201 Congress Street, Suite 175, Charlotte, NC 28209
