UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
September 24, 2015
Date of Report (Date of earliest event reported)
BALLANTYNE STRONG, INC.
(Exact name of registrant as specified in its charter)
Delaware | 1-13906 | 47-0587703 | ||
(State or other jurisdiction of | (Commission | (IRS Employer | ||
incorporation or organization) | File No.) | Identification Number) |
13710 FNB Parkway, Suite 400 | ||
Omaha, Nebraska | 68154 | |
(Address of principal executive offices) | (Zip Code) |
(402) 453-4444
(Registrant’s telephone number including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Form 8-K
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(c) On September 23, 2015, the Board of Directors of Ballantyne Strong, Inc. (the “Company”) appointed D. Kyle Cerminara as the Company’s Executive Chairman. Mr. Cerminara, 38, has been a member of the Company’s Board of Directors since February 2015 and served as its Chairman since May 2015. The Compensation Committee of the Board will review the compensation of Mr. Cerminara in connection with his new role at a later date.
Mr. Cerminara is the CEO, Co-Founder & Partner of Fundamental Global Investors, an SEC registered investment advisor that manages equity and fixed income hedge funds. Mr. Cerminara is also Co-Chief Investment Officer of Capital Wealth Advisors, a wealth advisor and multi-family office affiliated with Fundamental Global Investors. Mr. Cerminara serves on the Boards of Directors of blueharbor bank, a publicly traded community bank headquartered in Mooresville, North Carolina and Relm Wireless, a publicly traded radio manufacturer headquartered in West Melbourne, Florida. Mr. Cerminara’s previous experience includes roles as a Portfolio Manager at Sigma Capital Management, Director, and Sector Head of the Financials Industry at Highside Capital Management, Portfolio Manager, and Director at CR Intrinsic Investors, Vice President, Associate Portfolio Manager, and Analyst at T. Rowe Price, and Analyst at Legg Mason.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
99.1 Press Release of Ballantyne Strong, Inc., dated September 23, 2015, announcing the Board of Directors appointment of D. Kyle Cerminara as the Company’s Executive Chairman.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BALLANTYNE STRONG, INC. | ||
Date: September 24, 2015 | By: | /s/ Nathan D. Legband |
Nathan D. Legband | ||
Senior Vice President, Chief Financial Officer, and Treasurer |
EXHIBIT INDEX
Exhibit No. |
Description | |
99.1 | Press Release of Ballantyne Strong, Inc., dated September 23, 2015, announcing the Board of Directors appointment of D. Kyle Cerminara as the Company’s Executive Chairman. |
Ballantyne Strong Board Appoints
Kyle Cerminara Executive Chairman
OMAHA, Nebraska (September 23, 2015) – Ballantyne Strong, Inc. (NYSE MKT: BTN), a diversified provider of digital technology services, products and solutions, and a leading supplier of screens and equipment to the cinema industry, announced today that its Board of Directors appointed Kyle Cerminara as Ballantyne Strong’s Executive Chairman.
Cerminara has been a member of Ballantyne Strong’s Board of Directors since February 2015 and its Chairman since May 2015. Since joining the Board, Cerminara has worked closely with the Management team to evaluate and implement new strategies to improve shareholder value.
“I am honored to take on this new role with Ballantyne Strong”, said Cerminara. “Since being named the Chairman of the Board of Directors in May, I have spent a great deal of time working with the Management team and the other Board members to evaluate our businesses. I am excited to be engaged in a more active role in the organization and I look forward to working even more closely with the Management team. I am confident that, working together, we will strengthen Ballantyne’s strategies and vision, drive significant improvements in our financial performance and unlock greater value for our shareholders”.
Cerminara, 38, is also CEO, Co-Founder & Partner of Fundamental Global Investors, an SEC registered investment advisor that manages equity and fixed income hedge funds. Cerminara is also Co-Chief Investment Officer of Capital Wealth Advisors, a wealth advisor and multi-family office affiliated with Fundamental Global Investors. Cerminara is on the Board of Directors of blueharbor bank, a publicly traded community bank in Mooresville, NC. Cerminara is also on the Board of Directors of Relm Wireless, a publicly traded radio manufacturer headquartered in West Melbourne, Florida. Cerminara’s previous experience includes roles as a Portfolio Manager at Sigma Capital Management, Director and Sector Head of the Financials Industry at Highside Capital Management, Portfolio Manager and Director at CR Intrinsic Investors, Vice President, Associate Portfolio Manager and Analyst at T. Rowe Price, and Analyst at Legg Mason.
About Ballantyne Strong, Inc. (www.strong-world.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, and government markets.
Forward-Looking Statements
Except for the historical information in this press release, it includes forward-looking statements that involve risks and uncertainties, including but not limited to, quarterly fluctuations in results; customer demand for the Company’s products; the development of new technology for alternate means of motion picture presentation; domestic and international economic conditions; the management of growth; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings. Actual results may differ materially from management’s expectations.
CONTACT:
Nate Legband | Elise Stejskal | |
Chief Financial Officer | Investor Relations | |
402/829-9404 | 402/829-9423 |
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