White Electronic Design shareholder to nominate five for election to board

By Lisa Kerner

Charlotte, N.C., Dec. 11 - Wynnefield Capital, Inc. intends to conduct a proxy solicitation for the election of five director candidates to the board of White Electronic Design Corp.

There are four seats up for re-election and one current vacancy on the board, according to a schedule 13D filed with the Securities and Exchange Commission.

Wynnefield's five nominees are:

• William H. Alderman, president of Alderman & Co. Capital, LLC;

• Jon C. Biro, executive vice president, chief financial and accounting officer, treasurer and secretary of Consolidated Graphics, Inc.;

• Keith Butler, executive vice president and general manager of Oncore Manufacturing Services LLC;

• Brian Kahn, founder and investment manager of Caiman Partners LP and the managing member of the general partner of Caiman's general partner, Caiman Capital GP, LP; and

• Melvin L. Keating, former president and chief financial officer of Alliance Semiconductor Corp.

Wynnefield believes the proxy solicitation is necessary because White Electronics' board of directors is not acting in shareholders' best interests and has a history of failed strategic initiatives.

In November, Wynnefield asked the board to accept Kahn's offer to acquire the company for $6.05 per share or come forward with a better offer.

Wynnefield owns 6.4% of White Electronic. The Phoenix-based company manufactures microelectronic and display components and systems.

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