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| ARGL.OB > SEC Filings for ARGL.OB > Form 8-K on 29-May-2009 | All Recent SEC Filings |
29-May-2009
Other Events, Financial Statements and Exhibits
On May 29, 2009, a Special Committee of the Board of Directors (the "Board") of Argyle Security, Inc. (the "Company"), comprised of all of the independent directors of the Company, sent a letter to MML Capital Partners LLC ("MML") concerning MML's letter dated May 19, 2009 whereby MML made a conditioned offer to purchase the outstanding shares of the Company's common stock under certain terms and conditions. The Special Committee, formed on May 27, 2009 for the purpose of reviewing and responding to MML's conditional offer letter, stated that the Special Committee did not have sufficient time to adequately consider the offer and that, therefore, the Special Committee would not be responding to the offer by the deadline of May 29, 2009 set forth in the offer letter. The Special Committee further stated that it would continue its review and analysis of MML's offer and, if the offer was not terminated or withdrawn, would respond at a later date, once it had had sufficient time to adequately consider MML's offer and formulate a response consistent with its fiduciary duties and in the best interests of the Company and its stockholders. Neither the Special Committee nor the Board has concluded whether the offer is acceptable or the conditions attainable. A copy of the Special Committee's letter has been filed as Exhibit 99.1 to this Form 8-K.
Exhibit No. Description
99.1 Letter dated May 29, 2009 from the Special Committee of the Board of
Directors of Argyle Security, Inc. to MML Capital Partners LLC.
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