Lehman Trikes, Inc. (LTI) Board of Directors is looking into various strategic alternatives to enhance shareholder value, including the possibility of selling the company.
LTI announces that its Board has formed a committee of Directors to explore a range of options to improve the position of its shareholders, which could take the form of cost savings initiatives, the sale of the company, or a strategic business merger.
The Board has received an expression of interest from an investment firm to engage in a due diligence review with a view to making a significant investment in LTI. During this review period, which coincides with the company’s traditional slow time, LTI will continue to conduct business under a reduced scope of operations.
“In light of the challenging economic environment and current market conditions, the Board has determined to look more closely at a range of alternatives,” Ken Hines, President, said. “It is expected that these efforts will transition the company to take advantage of opportunities with well known industry participants.”
SOURCE – Motor Sports Newswire
