Amalgamated Gadget wants to negotiate trade restriction with Fremont General

By Lisa Kerner

Charlotte, N.C., Oct. 26 - Fremont General Corp. investor Amalgamated Gadget, LP, in an Oct. 23 letter to the company, took issue with what it called Fremont's "truly over-the-top and unnecessary standstill provision" that Amalgamated cannot agree to, according to schedule 13D filing with the Securities and Exchange Commission.

"In fact, your standstill provision is the most unreasonable that we have ever seen and, as applied to a stockholder that already owns approximately 8.2% of your outstanding shares, does not even make sense: we've already filed a schedule 13D (which your language fails to acknowledge)," the letter stated.

Amalgamated said it is, however, willing to agree to a 90-day trading restriction as well as all of Fremont General's confidentiality provisions.

Fremont General is a financial services holding company based in Santa Monica, Calif.

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