Autobytel Inc. (ABTL)

[confusedtrader]

News. BOD and Mercury agreement.

http://biz.yahoo.com/e/120815/abtl8-k.html


On August 7, 2012, Mercury Management, L.L.C., a Texas limited liability company ("Mercury") notified the Company that various investment funds managed by Mercury ("Mercury Funds") held, in the aggregate, approximately 400,000 shares of Common Stock, or approximately 4.5% of the outstanding Common Stock. Mercury requested that the Board consider exercising its discretionary authority under the Plan to deem Mercury and its Affiliates not to be an Acquiring Person and to grant a Plan Exemption for Mercury and its Affiliates to beneficially own not more than 7.5% of the outstanding Common Stock. The Board considered Mercury's request and granted Mercury and its Affiliates a Plan Exemption, subject to and in reliance upon the Stockholders entering into and remaining in compliance with the terms and conditions set forth in the Standstill Agreement.