Parlux Stockholder Requests Approval To Increase Ownership Interest
05 Settembre 2006 - 5:44PM
PR Newswire (US)
FORT LAUDERDALE, Fla., Sept. 5 /PRNewswire-FirstCall/ -- Parlux
Fragrances, Inc. (NASDAQ:PARL) announced today its Board of
Directors had received a letter from Glenn Nussdorf advising that,
as of August 28, 2006, he had acquired more than 5% of the
Company's outstanding common stock in the open market. Mr. Glenn
Nussdorf and or his brother Stephen Nussdorf (the "Nussdorfs")
propose to acquire additional shares which could exceed fifteen
percent (15%) and asked the Board to grant him Interested
Stockholder Approval as defined in Section 203 of the Delaware
General Corporation Law (DGCL). The Interested Stockholder Approval
was sought by the Nussdorfs, in order that their respective
affiliates and associates would not be prohibited from engaging in
a business combination with the Company as defined in DGCL Section
203 (c) (3). The Nussdorfs own 37% of E Com Ventures, Inc., a major
customer of the Company ,and together with their sister Arlene
Nussdorf, control Model Reorg, Inc., a fragrance distributor,
retailer and manufacturer. A special meeting of Parlux's Board of
Directors was convened whereby it was agreed to grant the Nussdorfs
Interested Stockholder Approval provided that the additional shares
of common stock are not acquired directly from any members of
Parlux's Board of Directors. Parlux Fragrances, Inc. is a
manufacturer and international distributor of prestige products. It
holds licenses for Paris Hilton fragrances, watches, cosmetics,
sunglasses, handbags and other small leather accessories in
addition to licenses to manufacture and distribute the designer
fragrance brands of Perry Ellis, GUESS?, XOXO, Ocean Pacific (OP),
Maria Sharapova, Andy Roddick, babyGund, and Fred Hayman Beverly
Hills. The Company may periodically release forward-looking
statements pursuant to the safe-harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements
of the Company or its industry to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. These risks and uncertainties
include, among others, future trends in sales and the Company's
ability to introduce new products in a cost-effective manner.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date
thereof. The Company undertakes no obligation to publicly release
the result of any revisions to these forward-looking statements
that may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
DATASOURCE: Parlux Fragrances, Inc. CONTACT: Ilia Lekach, Ext.
8116, or Frank A. Buttacavoli, Ext. 8117, of Parlux Fragrances,
Inc., +1-954-316-9008 Web site: http://www.parlux.com/ Company News
On-Call: http://www.prnewswire.com/comp/674987.html
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