BlueLine Commences Criticare Proxy Solicitation
September 12 2006 - 3:25PM
PR Newswire (US)
DANVILLE, Calif., Sept. 12 /PRNewswire-FirstCall/ -- BlueLine
Partners, LLC, the largest stockholder of Criticare Systems, Inc.
(AMEX:CMD), today announced that it is commencing its stockholder
consent solicitation to re- form Criticare's board of directors.
"We think it is time for Criticare's stockholders to have their
interests represented on the board by a majority of directors who
are both independent of management and who have the experience and
expertise necessary to guide Criticare through its current
challenges," said Scott Shuda, a managing director at BlueLine.
"The new board of directors will seek to understand whether
Criticare is performing at less than its full potential and if any
actions that can be taken to improve the situation," Shuda
continued. Except for one BlueLine representative, the proposed new
board of directors will also be independent of BlueLine. BlueLine
has set August 28, 2006 as the record date for the consent
solicitation. Stockholders who owned shares at the close of
business on August 28, 2006 may vote in this consent solicitation.
Instructions for voting shares are included within the stockholder
consent which may be obtained from BlueLine's website at
http://www.bluelinepartners.com/ . BlueLine disclosed its intention
to seek stockholder consent to re-form Criticare's board of
directors on August 22, 2006. On the day prior to BlueLine's
filing, Criticare's stock price closed at $2.79. On August 23,
2006, Criticare's stock price closed at $3.80, a 36% improvement.
"We believe the immediate increase in the company's stock price is
an indication that the company's stockholders see our proposals as
a positive step for the company," Shuda said. Additional
Information and Where to Find It BlueLine has filed a consent
solicitation statement and other relevant materials with the
Securities and Exchange Commission ("SEC"). Before making any
voting decision with respect to the proposed solicitation,
Criticare stockholders are urged to read the consent solicitation
statement and other relevant materials because they will contain
important information about the proposed solicitation. The consent
solicitation statement and other relevant materials, and any other
documents filed by BlueLine with the SEC, may be obtained free of
charge at the SEC's website at http://www.sec.gov/ . In addition,
copies of the consent statement are available at BlueLine's website
at http://www.bluelinepartners.com/ or by mail to BlueLine, 4115
Blackhawk Plaza Circle, Danville, CA 94506, attention: Scott A.
Shuda, telephone: +1-925-648-2085. You may also read and copy any
reports, statements and other information filed with the SEC at the
SEC public reference room at 100 F Street N.E., Washington, D.C.
20549. Please call the SEC at 800-SEC-0330 or visit the SEC's
website for further information on its public reference room.
Interests of Certain Persons in the Solicitation BlueLine and its
officers may be deemed to be participants in the solicitation of
consents from Criticare stockholders in favor of the proposed
consent solicitation. Will Moore, an officer of BlueLine, has
interests in the transaction that may differ from the interests of
Criticare stockholders generally, inasmuch as he will be elected to
the Criticare board of directors if the consent solicitation is
successful. These interests are described in the consent
solicitation statement. DATASOURCE: BlueLine Partners, LLC CONTACT:
Scott Shuda of BlueLine Partners, +1-925-648-2085 Web site:
http://www.bluelinepartners.com/
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