Protective Capital Structures Corp Names Randall G. Burton Chairman and President
February 12 2010 - 9:47AM
Marketwired
Protective Capital Structures Corp. (PINKSHEETS: PCSO) announced it
has named Randall G. Burton Chairman and President effective
immediately. Burton has been tasked to focus on specific issues
that are facing the company as he endeavors to rehabilitate its
corporate image and provide clarity around the current portfolio of
loans, the Series A and B Preferred Shares and the 21 outstanding
Funding Commitments with non-affiliates that were issued in 2004 -
2005.
Speaking about this assignment, Burton commented, "I am pleased
to have the opportunity to lead and reorganize Protective. One of
my first endeavors is to improve communication and transparency
while I evaluate the opportunities presently available to
Protective. In conjunction with a new management team, I look
forward to unlocking the unrealized gain on the PCSO shares in
order to increase the value to shareholders."
Burton served as President of RELM Holdings Inc. since September
2008. He led the expansion of RELM into the technology services
business. That expansion was initiated by using the PCSO stock as
collateral by Wilmington Trust to facilitate the acquisition of
Versalign by Access Versalign, a subsidiary of RELM. As of February
20, 2010, that collateral can be converted into cash under SEC Rule
144. Once liquidated, it is expected to provide working capital for
Access Versalign, Inc.
Shareholders who are interested in receiving updates on PCSO via
email may submit a request at
manager@protectivecapitalstructurescorp.com.
About PCSO
The PCSO business model is to arrange financing for real
property and commercial revenue producing assets and to provide a
comprehensive range of solutions to the business market focused on
earnings and operational excellence. For more information, visit:
www.protectivecapitalstructurescorp.com.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a
safe harbor for forward-looking information made on the company's
behalf. All statements, other than statements of historical facts
which address the company's expectations of sources of capital or
which express the Company's expectation for the future with respect
to financial performance or operating strategies, can be identified
as forward-looking statements. Such statements made by the company
are based on knowledge of the environment in which it operates, but
because of the factors previously listed, as well as other factors
beyond the control of the company, which include the ability of the
company to implement its business plans and expand its business
model, actual results may differ materially from the expectations
expressed in the forward-looking statements.
Contact: Protective Capital Structures Corp Email:
manager@protectivecapitalstructurescorp.com