Steel Partners II Comments on Q2 Financials of Point Blank Solutions (PBSO); Urges Shareholders to Vote for New Board

August 12, 2008 2:50 PM EDT

Steel Partners II, L.P. commented on the second quarter 2008 financial results released yesterday by Point Blank Solutions, Inc. (OTC: PBSO), which highlight the Company’s rapidly deteriorating operational and financial situation. Steel Partners also again urged stockholders to vote the GOLD proxy card for its highly qualified and experienced slate of nominees.

“After reviewing Point Blank’s second quarter results, it seems pretty clear to us, and we hope to all stockholders, that operating and stock performance continue to suffer mightily under this Board’s watch,” stated Warren G. Lichtenstein, Managing Member of Steel Partners. “We are not fooled by the Company’s excuses or rhetoric and stockholders shouldn’t be either.”

Mr. Lichtenstein continued, “It is beyond us how anyone can find it acceptable for Point Blank to continue to silence its stockholders, especially when you consider these appalling results.”

Steel Partners urges all stockholders to vote promptly and to discard any proxy materials you may receive from management. If you have returned management's white proxy card, you can change your vote by executing the enclosed GOLD proxy card.[SM]

Related Categories

Corporate News

Stocks Mentioned

Related Entities

• Steel Partners
• Warren Lichtenstein

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?