|
Gabelli Asset Management Company is pleased to announce that its resolution supporting the elimination
of BKF Capital Group Inc.'s "poison pill" was approved by the vast majority of the shareholders voting
at BKF Capital Group's annual meeting held today.
"We are delighted that an overwhelming 90% of BKF's shareholder votes were cast in favor of our
proposal. Gabelli has long advocated corporate governance initiatives against poison pills and
excessive stock option plans. As recent events have demonstrated, it is time for checks and balances
to be returned to the boardrooms and the management suites of public companies. Poison pills upset
the proper balance of power between shareholders and management. We again took the initiative here
and are encouraged by the incredible support we received from other shareholders."
"In light of the built-in change of control provisions for investment managers under the federal
securities laws, we believe that BKF's poison pill is particularly indefensible. We hope that BKF's
Board of Directors will listen to the clear and unwavering voice of its shareholders after this second
victory," said a representative of Gabelli. An identical proposal last year received support from 66%
of the votes cast.
Gabelli Asset Management Company, a subsidiary of Gabelli Asset Management Inc. (GBL:NYSE), provides
investment management services to institutional and high net worth investors. Gabelli Asset Management
Inc. has approximately $21 billion in assets under management.
|