Collegiate Pacific Announces Board Changes
May 25 2007 - 9:30AM
Business Wire
Collegiate Pacific (AMEX: BOO) today announced that Michael
Blumenfeld, the company's Chairman, has announced his plans to
resign from the Board of Directors as Chairman of the Board
effective June 30, 2007. These actions are part of Mr. Blumenfeld's
previously announced retirement plans. Mr. Blumenfeld recently sold
approximately 170,000 shares of common stock, or about 11% of his
holdings in the company and continues to hold approximately 1.35
million shares of common stock. Mr. Blumenfeld stated "After 35
years with our related companies there comes a time to delegate the
execution of the future plans to a younger and more energetic
management team. I am confident that our board and current
management has the tools, energy and talent to take our
consolidated operations to the next level of performance." Mr.
Blumenfeld plans to remain with the company, working with
management in strategic planning on financial and corporate
matters. This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include statements
relating to Collegiate Pacific's anticipated financial performance,
business prospects, new developments and similar matters, and/or
statements preceded by, followed by or that include the words
"believes," "could," "expects," "anticipates," "estimates,"
"intends," "plans," or similar expressions. These forward-looking
statements are based on management's current expectations and
assumptions, which are inherently subject to uncertainties, risks
and changes in circumstances that are difficult to predict. Actual
results may differ materially from those suggested by the
forward-looking statements due to a variety of factors, including
changes in business, political, and economic conditions due to the
threat of future terrorist activity or otherwise, the ability to
successfully complete integration related activities, actions and
initiatives by current and potential competitors, and certain other
additional factors described in Collegiate Pacific's filings with
the Securities and Exchange Commission. Other unknown or
unpredictable factors also could have material adverse effects on
Collegiate Pacific's future results, performance or achievements.
In light of these risks, uncertainties, assumptions and factors,
the forward-looking events discussed in this press release may not
occur. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date stated,
or if no date is stated, as of the date of this press release.
Collegiate Pacific is not under any obligation and does not intend
to make publicly available any update or other revisions to any of
the forward-looking statements contained in this press release to
reflect circumstances existing after the date of this press release
or to reflect the occurrence of future events even if experience or
future events make it clear that any expected results expressed or
implied by those forward-looking statements will not be realized.
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