BKF Capital Group, Inc. and Opportunity Partners L.P. Announce Settlement
April 29 2004 - 5:31PM
PR Newswire (US)
BKF Capital Group, Inc. and Opportunity Partners L.P. Announce
Settlement NEW YORK, April 29 /PRNewswire/ -- BKF Capital Group,
Inc. and Opportunity Partners L.P. announced today that they have
reached a settlement relating to a shareholder proposal submitted
by Opportunity Partners. In response to Opportunity Partners'
proposal, BKF reaffirmed its commitment to enhancing shareholder
value. BKF indicated that it is committed to increasing profits
through a program focused on the continued development of current
investment products, the maintenance and development of the
infrastructure required for managed growth and the recruitment and
development of complementary investment capabilities. In connection
with the settlement, BKF has also agreed to pay the legal costs
incurred by Opportunity Partners in connection with its claim.
Separately, Mr. Phillip Goldstein, President of Kimball &
Winthrop, Inc., the general partner of Opportunity Partners,
announced that Opportunity Partners would be voting this year in
accordance with the recommendations of the Board of Directors on
the matters to be presented at BKF's annual meeting of
stockholders. This press release contains certain statements that
are not historical facts, including, most importantly, information
concerning possible or assumed future results of operations of BKF
and statements preceded by, followed by or that include the words
"may," "believes," "expects," "anticipates," or the negation
thereof, or similar expressions, which constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 (the "Reform Act"). For those statements, BKF
claims the protection of the safe harbor for forward-looking
statements contained in the Reform Act. These forward-looking
statements are based on BKF's current expectations and are
susceptible to a number of risks, uncertainties and other factors,
and BKF's actual results, performance and achievements may differ
materially from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include the following: retention and ability of qualified
personnel; the performance of the securities markets and of value
stocks in particular; the investment performance of client
accounts; the retention of significant client and/or distribution
relationships; competition; the existence or absence of adverse
publicity; changes in business strategy; quality of management;
availability, terms and deployment of capital; business abilities
and judgment of personnel; labor and employee benefit costs;
changes in, or failure to comply with, government regulations; the
costs and other effects of legal and administrative proceedings;
and other risks and uncertainties referred to in this document and
in BKF's other current and periodic filings with the Securities and
Exchange Commission, all of which are difficult or impossible to
predict accurately and many of which are beyond BKF's control. BKF
will not undertake and specifically declines any obligation to
publicly release the result of any revisions which may be made to
any forward-looking statements to reflect events or circumstances
after the date of such statements or to reflect the occurrence of
anticipated or unanticipated events. In addition, it is BKF's
policy generally not to make any specific projections as to future
earnings, and BKF does not endorse any projections regarding future
performance that may be made by third parties. DATASOURCE: BKF
Capital Group, Inc. CONTACT: Norris Nissim, Vice President and
General Counsel of BKF Capital Group, Inc., +1-212-332-8400
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