Accipter, unhappy with Rural/Metro's performance, nominates two to board

By Lisa Kerner

Charlotte, N.C., Aug. 31 - Rural/Metro Corp. shareholder Accipiter Life Sciences Fund, LP, 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.

As a result, the investor, in a separate Aug. 31 letter, nominated Nicole Viglucci of Accipiter and Mohsin Y. Meghji of Loughlin Meghji & Co. for election to Rural/Metro's board.

In addition, Accipter reported the purchase of 244,738 shares of the company's stock between July 18 and Aug. 28, priced from $3.04 to $5.13 per share, in a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons beneficially own 3,701,647 shares, or 14.99%, of the Scottsdale, Ariz., medical transportation company's outstanding stock.

Accipiter reported a 14.8% stake in Rural/Metro on July 9 and a 12.98% stake on June 26.

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