Tuesday, July 24, 2007

NTN Buzztime (NTN) Holder Trinad Capital Demands Changes; Wants Chairman Removed, Board Changes, Evaluation of Strategic Alternatives

In a 13D filing this morning on NTN Buzztime, Inc (AMEX: NTN), Trinad Capital disclosed a 6.6% stake, changing their filing status from 13G (passive) to 13D (active), and a letter to the board demanding that they take immediate action to improve the operating and stock performance and Director accountability.

Specifically, the firm demanded that the Board take the following actions: (i) remove Mr. Barry Bergsman as Chairman of the Board of Directors; (ii) request the resignations of Mr. Bergsman and one other director; (iii) appoint two individuals designated by Trinad as members of the Board of Directors; (iv) amend the Issuer’s bylaws to remove those provisions intended to entrench the incumbent Board of Directors and management, including the elimination of the right to call a special meeting and advance notice requirements; and (v) evaluate all strategic alternatives that would unlock and maximize stockholder value.

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