Point Blank Solutions, Steel Partners reach agreement on meeting date

By Lisa Kerner

Charlotte, N.C., May 20 - Point Blank Solutions, Inc. said its annual meeting will be held on Aug. 19 under an agreement reached with Steel Partners II, LP on Tuesday that requires the company to hold the meeting no later than that date.

In April, Point Blank determined it would postpone the meeting until August to allow time for the company to focus on a strategic review process, according to a company news release.

Steel Partners filed suit in Delaware to compel Point Blank to hold the meeting earlier.

Point Blank's board continues to pursue all strategic alternatives, including a possible sale of the company, with the assistance of Wachovia Securities, it was stated in the release.

Point Blank is a Pompano Beach, Fla., producer of body armor systems for law enforcement and the military.

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