MagIndustries Corp MAAFF

Morrow's Response to Burton Sale

[hannahm]

I emailed Rich Morrow about the Burton sale and this is what he wrote back:

I appreciate your question and the concern behind it. These sales took me totally by surprise and after discussing the topic at lengrh with the Burtons I believe that they relate to very specific financial circumstances. They continue to own millions of shares and I believe they have no future intentions to sell. Like you I take this matter very seriously. I assure you that the senior management continues to see a very high probability of the deal closing with enormously positive implications for Mag shareholders. None of the other senior managers would consider selling a share. I believe the Burtons sincerely regret the doubt their share sales created but after months of "black out" they had a limited window to sell and felt the need to do so for financial reasons totally unrelated to the company.
All the best,
Rich.