Escalade Slates New Directors, Seeks Addition in Authorized Shares
WABASH, Ind., March 15 /PRNewswire-FirstCall/ -- Escalade, Inc. (Nasdaq: ESCA) slated three new independent Directors in a bid to bolster its Board and strengthen its corporate governance. If elected, this will increase the number of Directors to seven, of which five will be nonemployee independents. The new Director nominees are as follows: -- Mr. George Savitsky, age 65, Partner: Savitsky Satin & Company, a company specializing in the management of the personal and business affairs of highly successful entertainers. Mr. Savitsky is a CPA with a unique background in marketing, manufacturing and finance. -- Mr. Richard White, age 50, President, Aeolus Capital LLC, an investment management group focused on small cap investments in public companies as well as private equity investments. Mr. White is also a CPA. -- Mr. Edward (Ned) Williams, age 43, Founder and President of Ballast Tools, Inc., a manufacturer of industrial equipment and supplies used for railway track maintenance for 19 years. Mr. Williams is a graduate of Westminster College with a degree in Economics and Business Administration. C.W. (Bill) Reed, President and CEO, stated that "The new Director nominees bring a wealth of successful business experience as well as financial expertise that should prove valuable as we move forward." The company also announced that it is seeking to triple its authorized common shares to 30 million to provide future flexibility for corporate needs such as stock splits or stock dividends, acquisitions or other purposes. Both actions are subject to shareholder approval at the annual shareholder meeting to be held on April 24, 2004, at 9:00 AM central time at 817 Maxwell Ave., Evansville, IN. Escalade is a quality manufacturer and marketer of sporting goods and office/graphic arts products sold worldwide. To obtain more information on the Company and its products, visit our website at: www.EscaladeInc.com or contact Terry Frandsen, Vice President and CFO at 260/569-7208 or C.W. (Bill) Reed, President and CEO at 260/569-7233
SOURCE Escalade, Inc.
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