Sunair Services Corporation filed an amendment to its proxy statement yesterday. This document clarifies a key issue which will likely impact the outcome of the contropversy between the company and its dissident shareholder group. It clarifies that a significant portion of the shares (and warrants) held by members oft the dissident group were obtained as a result of their limited partnership interests in Coconut Palm Capital Investors IUI, Ltd. Limited partners in Coconut Palm Capital Investors II, Ltd., were required to sign an irrevocable proxy in favor of Coconut Palm upon redemption opf a limited partnership interest. The dissident group claims that the proxies are not valid. The Company states that it ” believes the Coconut Palm Proxy is valid and disagrees with the Dissident Group’s position.”
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