DALLAS, March 22, 2013 /PRNewswire/ -- Stratford
Capital Partners, L.P. and Retail & Restaurant Growth Capital,
L.P. (together, "Stratford/RRGC"),
today announced that they had delivered the requisite number of
written consents from the stockholders of Teletouch Communications,
Inc., (OTC BB: TLLE) to remove Clifford E.
McFarland, Henry Y. L. Toh,
Marshall G. Webb, Terry K. Dorsey, Ph.D. and Ronald L. Latta, Jr. from the Board of Directors
and to elect Stratford/RRGC
nominees Joseph L. Harberg,
Raymond C. Hemmig, Scott M. Kleberg, David
W. Knickel and Charles Daniel
Yost to fill the resulting vacancies.
Stratford/RRGC delivered
consents from stockholders representing more than two-thirds of
TLLE's outstanding shares to remove directors Clifford E. McFarland, Henry Y. L. Toh, Marshall G. Webb, Terry
K. Dorsey, Ph.D. and Ronald L.
Latta, Jr. and to fill the resulting vacancies with
Joseph L. Harberg, Raymond C. Hemmig, Scott
M. Kleberg, David W. Knickel
and Charles Daniel Yost. All
proposals approved by the stockholders took effect upon
Stratford/RRGC's delivery of the
consents to the Company on March 22,
2013.
Raymond C. Hemmig, Chairman and
CEO of Retail & Restaurant Growth Management, Inc. and new
member of the Board, stated "We greatly appreciate the efforts of
the outgoing members of the Board of TLLE and thank them for their
dedicated service. As new directors, each one of us is
committed to representing the best interests of all
stockholders. We look forward to working with Robert McMurrey and Kip
Hyde and all of the members of the TLLE management team in
the orderly transition of the Board and in the ongoing work of
maximizing value for all stockholders."
CONTACT:
Retail & Restaurant Growth Capital,
L.P.
Raymond C. Hemmig,
(214)-291-2903
SOURCE Retail & Restaurant Growth Capital, L.P.