Rural/Metro to meet with Accipiter Capital to discuss shareholder value

By Lisa Kerner

Charlotte, N.C., Oct. 1 - Rural/Metro Corp.'s board of directors will meet with "significant stockholder" Accipiter Capital Management, LLC on Oct. 10.

"In an effort to be responsive to stockholders' requests, we look forward to meeting with Accipiter ... to discuss long-term stockholder value," president and chief executive officer Jack Brucker said in a company news release.

"Our priority is to enhance stockholder value, and the board and management are committed to doing what is best for all shareholders in this regard."

It was previously reported that Accipiter, in an Aug. 30 letter to the company's board, expressed displeasure at Rural/Metro's loss in stockholder value, lack of progress in reforming corporate governance and compensation, failure to provide investors with any significant expectations for financial performance and perceived disregard for its stockholders and their concerns.

The investor later nominated Nicole Viglucci of Accipiter and Mohsin Y. Meghji of Loughlin Meghji & Co. for election to Rural/Metro's board. At that time, Accipiter reported ownership of 3,701,647 shares, or 14.99%, of the Scottsdale, Ariz., medical transportation company's outstanding stock.

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