Pressure a plus for 20/20

Article Excerpt

20-20 TECHNOLOGIES INC. $3.55 (Toronto symbol TWT; SI Rating: Speculative) (514-332-4112;; Shares outstanding: 18.9 million; Market cap: $67.1 million; No dividends paid) has scheduled a special shareholders meeting for December 21 to vote on proposals from a group of 20-20 shareholders led by U.S.-based private-equity firm Crescendo Partners. Together, these investors own 16% of 20-20’s shares. They want to replace three of 20/20’s ten directors with their nominees. 20/20 now says that its four largest shareholders, which together hold 58% of the company’s shares, will vote against Crescendo’s proposals. The board nominations will likely fail, but Crescendo has a history of helping small technology companies unlock value. It should press 20/20 to keep improving its results. That’s a positive for the company. 20-20 Technologies is still a hold. hold…

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