Alderman & Company advises Firan Technology Group in regard to shares held by Glendale
RIDGEFIELD, Connecticut (April 19, 2011) - Alderman & Company Capital, LLC (“Alderman & Company”) today announced completion of its role as financial advisor to Firan Technology Group Corporation (TSX: FTG). Alderman & Company was retained by FTG after FTG’s significant shareholder, Glendale International Corp., entered into bankruptcy proceedings and Ernst & Young Inc. was retained to act as trustee for the Glendale estate. Alderman & Company provided advice to FTG in regard to the 8,541,987 common shares of FTG, representing approximately 48% of issued and outstanding Common Shares of FTG, held by the Glendale estate.
As previously announced, these shares have now been acquired by Oakwest Corporation Limited through a private sale at a price of $0.31 per Common Share. There has been no change to the business or operations of FTG as a result of the transaction between the Glendale estate and Oakwest.
Ray Harris, Chairman of the Board of FTG commented “Alderman & Company Capital provided advice and guidance to FTG’s board of directors that was well thought-out, insightful, and clearly focused on the best interests of the company. We are pleased with the outcome here and we thank Alderman & Company Capital for their assistance with this important matter”.
Located in Ridgefield, Connecticut, Alderman & Company Capital, LLC is a registered broker-dealer and member of FINRA and SIPC. The firm exclusively provides investment banking services to companies, investors, lenders and other stakeholders in the aerospace and defense industry.
For further information please visit the company’s web site: www.aldermancapital.com.
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- William Alderman
- Alderman & Company Capital
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