Abrams Files 8K
March 03 2006 - 4:06PM
PR Newswire (US)
ATLANTA, March 3 /PRNewswire-FirstCall/ -- ABRAMS INDUSTRIES, INC.
(NASDAQ:ABRI), an energy services, facilities solutions and real
estate company, today reported in its SEC form 8K that the
Company's Board of Directors yesterday elected Mr. Robert T.
McWhinney, Jr. as the replacement on the Audit Committee for Mr.
Felker W. Ward, Jr., 72, who retired as a Director of the Company
on February 15, 2006. Mr. McWhinney has been a Director of the
Company since 2000 and previously served on the Company's Audit
Committee. The form 8K also noted that the Company had received a
letter from Nasdaq earlier this week indicating that with the
retirement of Mr. Ward, the Company was not in compliance with
Nasdaq's audit committee requirement as set forth in Marketplace
Rule 4350. With the election of Mr. McWhinney, however, the
Company's Audit Committee is once again comprised of three
independent directors, and the Company is in full compliance with
Marketplace Rule 4350. The Audit Committee held no meetings and
took no actions during the two-week period that it had only 2
members. The next Audit Committee meeting is scheduled for March 9,
2006. Established in 1925, Abrams Industries, operating nationwide
through its wholly owned subsidiaries, offers a variety of energy
efficiency services and facility resource management solutions, and
engages in commercial real estate investment and development. The
Company provides energy engineering and analytical consulting
services, Web-enabled service and maintenance management software
solutions, and turnkey implementation of energy saving lighting
programs and related energy services, which help its customer base
of energy services companies and multi-site owners and operators of
office, hospitality, retail, educational, institutional,
industrial, multi-family, government, and health care buildings,
proactively manage facility resources and reduce energy consumption
and other facility-related expenses, while improving occupant
satisfaction. The Company also currently owns or controls over
800,000 square feet of shopping centers in the Midwest and
Southeast and more than 200,000 square feet of office properties in
metropolitan Atlanta, Georgia. For more information about Abrams
Industries, please visit http://www.abramsindustries.com/ or call
770-953-0304. Certain statements contained in this news release are
forward-looking statements within the meaning of the federal
securities laws. Such forward- looking statements involve known and
unknown risks, uncertainties and other matters which may cause the
actual results, performance or achievements of Abrams Industries,
Inc. to be materially different from any past or future results,
performance, or uncertainties expressed or implied by such forward-
looking statements. Abrams Industries, Inc. does not undertake to
update these forward-looking statements. DATASOURCE: Abrams
Industries, Inc. CONTACT: Alan R. Abrams, Co-Chairman, President
& Chief Executive Officer of Abrams Industries,
+1-770-953-0304, or Web site: http://www.abramsindustries.com/
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