-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RXk+dDGqMp/KPHjEWFpetEunp08lqc1WHIDiGMguxIj5gVgrejYcNwGgcXsPlI7X BpCJZNsaOYG8TjQTwPuR0A== 0000905148-98-001216.txt : 19980710 0000905148-98-001216.hdr.sgml : 19980710 ACCESSION NUMBER: 0000905148-98-001216 CONFORMED SUBMISSION TYPE: DFAN14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980709 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HEI INC CENTRAL INDEX KEY: 0000351298 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 410944876 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: DFAN14A SEC ACT: SEC FILE NUMBER: 000-10078 FILM NUMBER: 98663662 BUSINESS ADDRESS: STREET 1: 1495 STEIGER LAKE LN STREET 2: P O BOX 5000 CITY: VICTORIA STATE: MN ZIP: 55386 BUSINESS PHONE: 6124432500 MAIL ADDRESS: STREET 1: P O BOX 5000 STREET 2: 1495 STEIGER LAKE LANE CITY: VICTORIA STATE: MN ZIP: 55386 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FANT INDUSTRIES INC CENTRAL INDEX KEY: 0001056852 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: AL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DFAN14A BUSINESS ADDRESS: STREET 1: 2154 HIGHLAND AVE CITY: BIRMINGHAM STATE: AL ZIP: 35205 BUSINESS PHONE: 2059331030 DFAN14A 1 T:\EDGAR\DFAN14A.TXT SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant { } Filed by a Party other than the Registrant {x} Check the appropriate box: { } Preliminary Proxy Statement { } Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) { } Definitive Proxy Statement {x} Definitive Additional Materials { } Soliciting Material Pursuant to Section 240.14a-11 or Section 240.14a-12 HEI, Inc. (Name of Registrant as Specified In Its Charter) FANT INDUSTRIES INC. (Name of Person(s) Filing Proxy Statement) Payment of Filing Fee (Check the appropriate box): {x} No fee required. { } Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: ----------------------------------------------------------------------- (2) Aggregate number of securities to which transaction applies: ----------------------------------------------------------------------- (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined): ----------------------------------------------------------------------- (4) Proposed maximum aggregate value of transaction: ----------------------------------------------------------------------- (5) Total fee paid: ----------------------------------------------------------------------- { } Fee paid previously with preliminary materials. { } Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of filing. (1) Amount Previously Paid: ----------------------------------------------------------------------- (2) Form, Schedule or Registration Statement No.: ----------------------------------------------------------------------- (3) Filing Party: ----------------------------------------------------------------------- (4) Date Filed: ----------------------------------------------------------------------- Advertisement, published July 8, 1998 To the Shareholders of HEI, Inc.: [Area graph with title "HEI Stock Price Since January 1997" showing the HEI month-end stock prices from 1/1/97 through 5/31/98. Graph indicates the following events: 4/7/97 HEI announces that it has "received notice from its largest customer to begin phasing out production"; 12/4/97 Mr. Fant begins accumulating shares of HEI stock; 2/17/98 Mr. Fant discloses his intent to gain control of HEI.] During the four months from December 1997 to March 1998, HEI's Board gave its top three executives more than 250,000 stock options - more than 6% of the Company's shares - an astonishing reward following a year in which the stock price dropped over 50%! What's wrong with this picture? Your vote is important! Return the GREEN proxy card today. If you have questions or need assistance voting your shares, please contact Beacon Hill Partners at (800) 253-3814. FANT INDUSTRIES INC. Press release, dated July 9, 1998 FANT INDUSTRIES INC. 2154 Highland Avenue Birmingham, Alabama 35205 Phone: (205) 933-1030 For further information contact: Anthony J. Fant (205) 933-1030 Richard Grubaugh Beacon Hill Partners, Inc. (212) 843-8500 FOR IMMEDIATE RELEASE - --------------------- FANT REBUKES HEI CRITICISM OF DELOITTE & TOUCHE HIRING - ------------------------------------------------------ NEW YORK, NEW YORK - July 9, 1998 - Anthony J. Fant, the controlling shareholder of Fant Industries Inc. and the largest shareholder of HEI, Inc. (Nasdaq:HEII), rebuked today the directors of HEI for criticizing the hiring of Deloitte & Touche to assist with Fant's growth strategy for HEI. Fant said that the criticism reflects an attitude that is resistant to change and that "this attitude is part of the problem." "In light of their operating history and stock performance, maybe HEI's directors should have hired Deloitte & Touche years ago," Fant said. "We are businessmen. We know how to fix underperforming businesses, and we know how to create value. We have recognized for a long time, as have most public companies, that outside experts can provide valuable information about industry trends and competition and can help identify strategic opportunities. What we are doing is no different from what Microsoft, 3M and McDonalds do all the time." "It is astonishing that these directors continue to keep their heads in the sand like frightened ostriches, while the Company continues to underperform. We have said time and again that we will aggressively seek out and create opportunities for growth, and that is what we are doing - not just talking about it. We will continue to explore all ways to revitalize HEI and to maximize shareholder value even if the incumbent directors remain afraid to hear outside views." Fant noted the statement by HEI's directors that their "knowledge and expertise enabled [them] to successfully exit the disk drive portion of [their] business last year..." Fant said, "Losing your largest customer and losing 50% of your shareholder value is not what I call success. We're ready to redefine success at HEI." -----END PRIVACY-ENHANCED MESSAGE-----