Telos shareholder requests special meeting to fill board vacancies

By Lisa Kerner

Charlotte, N.C., Feb. 8 - Telos Corp. investor Costa Brava Partnership III, LP, along with the Wynnefield Parties, requested the company call a special meeting of its shareholders to elect two new class D directors and solicit nominees for vacate class D directorships.

Under the company charter, Telos is required to call a special meeting within 30 days of the notice mailing date, Costa Brava said.

Should Telos fail to call a special meeting within 30 days, the shareholders may call the meeting at a place of their choosing at the company's expense.

Costa Brava and the Wynnefield Parties hold 12% of the company's cumulative exchangeable redeemable preferred stock, according to a schedule 13D filing with the Securities and Exchange Commission.

The Wynnefield Parties include Wynnefield Small Cap Value, LP, Wynnefield Small Cap Value I, LP, Channel Partnership II, LP Wynnefield Small Cap Value Offshore Fund, Ltd., Wynnefield Capital Management, LLC, Wynnefield Capital, Inc., and Joshua Landes.

Telos is an IT solutions and services provider based in Ashburn, Va.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.