NEW YORK Ray French and Paul Coulson, who are waging a proxy contest for election to the board of Suburban Lodges of America, mailed a letter to all shareholders of Suburban Lodges asking for their vote on the gold proxy card.
Shareholders recently received proxy materials, including the gold proxy card, which asks for a decision on upcoming proxy contest that could have a direct and long lasting effect on the value of their shares.
Since Suburban Lodges IPO in 1996, the company s stock has gone down 60%, and has never paid any dividends. French and Coulson outlined a number of ways they would attempt to turn the company around, including pushing to unlock the companys significant underlying asset values through a sale of Suburban Lodges or its assets. (5/10/01)