Wynnefield asks White Electronic Designs for specifics regarding review process

By Lisa Kerner

Charlotte, N.C., Sept. 29 - White Electronic Designs Corp. shareholders led by Wynnefield Capital, Inc. asked the company's board of directors to provide specifics regarding its process to review strategic alternatives.

In a Sept. 25 letter to the board, Wynnefield asked for:

• The names of the directors comprising the strategic review committee;

• The mandate and responsibilities of the committee; and

• The identity of any financial advisors assisting the committee.

In addition, Wynnefield wants the company's shareholders to know that the committee is directed to complete its analysis and publicly present its recommendations to the board by Dec. 1, according to the letter included as part of a schedule 13D filed with the Securities and Exchange Commission.

Wynnefield, a 5.7% shareholder, requested that White Electronic wait to select a new chief executive officer until the strategic review committee has publicly presented its recommendations, the filing noted.

The investor also reiterated its prior request that the board immediately appoint Brian Kahn of Kahn Capital Management LLC to the board and as a member of the strategic review committee.

White Electronic is a Phoenix-based manufacturer of microelectronic and display components and systems.

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