Ampex puts ValueVest appointee on its board

By Lisa Kerner

Charlotte, N.C., March 12 - A group of Ampex Corp. shareholders led by ValueVest High Concentration Master Fund, Ltd. said the company appointed Alain C. Briancon to its board of directors on March 8.

ValueVest had previously voiced concern over the company's financial results and operational performance in a Feb. 20 filing. The investment manager introduced Briancon to Ampex as a possible appointee to the board.

The investor group owns 341,436 shares, or 8.9%, of Ampex common stock, according to a schedule 13D filed with the Securities and Exchange Commission.

Ampex is a Redwood City, Calif., technology licensing company.

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