Lehman Trikes Inc., calling itself the “Leader Of The Three World” and specializing in trikes, trike kits and conversions, issued a press release to investors signed by its President Kennon D. Hines, in which the company announces that it is looking for strategies to enhance shareholder value. Options include the possibility of selling, a strategic business merger with cost saving initiatives. Lehman Trikes Inc. stock (OTC Symbol LTRKF) lost 97.55% of its value in 5 years and 54.77% during the last 12 month. Market capitalization (shares x price of share) seems to be under $500,000.
The company was originally founded and established in 1985 by John Lehman in a rural community of Alberta, Canada. Using his garage as a workshop, and a 1981 Honda CB900 as a donor nike, he had successfully achieved his goal, to build a very comfortable 3-wheeler. Progressively Lehman Trikes achieved recognition throughout the motorcycle community for innovation, leadership, and advancement of three-wheel motorcycles. Now based in Spearfish, South Dakota, Lehman has grown to become a publicly traded company. After the jump, I publish in full the Lehman press release addressed to investors.
Lehman Trikes looks for strategies to enhance shareholder value.
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.” LTI is considered one of the trike industry’s foremost leaders and is well known for its high
quality and reliable products. There is no assurance that any transaction will be completed.
Kennon D. Hines, President Lehman Trikes, Inc., 125 Industrial Dr., Spearfish, SD 57783 Phone: 605-642-2111, Fax: 605-642-1184, Email: firstname.lastname@example.org
Marc Rose, Chairman
John Lehman, Director
Larry Strilchuk, Director
Jim Wild, Director