THE CURRENT BOARD'S INTERESTS ARE NOT ALIGNED WITH STOCKHOLDERS
ADVOCAT BOARD NEEDS TO EXPLORE THE SALE OR MERGER OF THE COMPANY
HOLLYWOOD, Calif., May 19 /PRNewswire/ -- Bristol Investment Fund, Ltd. ("Bristol") announced today that it has sent a letter to the stockholders of Advocat, Inc. (the "Company") (Nasdaq: AVCA) urging stockholders to elect its two highly qualified and independent director nominees, Paul Kessler and Richard McKilligan, at the Company's 2009 annual meeting of stockholders on May 29, 2009. Bristol, together with the nominees, beneficially owns an aggregate of 422,540 shares of common stock of the Company, representing approximately 7.44% of the outstanding shares of the Company's common stock.
The full text of the letter follows:
May 19, 2009
Dear Fellow Stockholders of Advocat Inc.:
Bristol Investment Fund, Ltd. ("Bristol") is seeking your support to elect two highly qualified nominees to the Board of Directors of Advocat Inc. at the 2009 Annual meeting of stockholders to be held at 9:00 a.m. (Central Daylight Time), May 29, 2009, at the Company's offices, 1621 Galleria Boulevard, Brentwood, Tennessee 37027. We have become increasingly concerned over the direction, compensation and corporate governance at Advocat during the past three years we have been stockholders. Bristol, as one of Advocat's largest stockholders, beneficially owning an aggregate 422,540 Shares as of the date hereof, approximately 7.44% of the Shares outstanding, believes recent actions by the Board of Directors have not been in the best interests of stockholders and have only served to further entrench management and the Board.
Please vote the GOLD proxy to support our slate of highly qualified independent director nominees so we can try
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