Franklin Electronic Publishers

http://www.punjabjustice.org/t132.htm
Shares in the Burlington City, N.J., electronic handheld book makee closedat $2.11 Mondah after closing at a little more than $1 The group’s proposal values Franklin (NYSE Amex:FEP) at $19.44 million, based on the number of shares that the companh had outstanding on Jan. 28. Through its ownership of Franklin stociand options, the group controls 43.7 percenr of the company’s shar e votes, although it expects to only exercise options with an exercisd price of $2.35 or less per which would give it control of only 39.9 perceng of Franklin’s share votes.
Franklin said Monda its board of directors has appointed a specialo committee of independent board memberzs to considerthe proposal, which the group submitted to the board May 20. The group is comprisedd of President and CEOBarrh Lipsky; Chief Financial Officer Frank Musto; Chief Operatin g Officer Toshihide Hokari; Chairman of the Board Howarf Morgan; Director James Simons; a Bermudqa investment company, Shining Sea Ltd.
, that is owned by a trustt established by Simons; and an investor, Marcy The group has formed a company, , to buy In the letter it sent to Franklin’s board, Saundersd said it is ownesd by Lipsky, Musto and Hokari, and that Simons, Shinin g Sea, Morgan and Lewis have agreedf to buy into it. Saunders also said its proposaol is not subject to anyfinancint conditions. Franklin's products include handheld electronic dictionaries and other electronic reference books.