www.sec.gov/Archives/edgar/data/1045080/0001047469-02-0 -
[Cached Version]
Published on: 11/26/2002
Last Visited: 11/28/2002
The Board resolved that Mr. Fineman and Mr. Leavitt, two of the Company's outside independent directors, would speak to Mr. Weil, Scientific Games' Chief Executive Officer, in an attempt to negotiate a higher offer price.
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On September 30, 2002, Company directors Fineman and Leavitt and Mr. Koch of Mintz Levin met via telephone with Mr. Weil and Mr. Schloss of Scientific Games in an attempt to persuade Scientific Games to raise the offer price for the stockholders other than Mr. Saferin to a price between $1.60 and $1.75.
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No transactions in shares of Common Stock have been effected during the past 60 days by MDI ENTERTAINMENT INC or any subsidiary of MDI ENTERTAINMENT INC or, to the best of the Company's knowledge after a review of Form 4 filings, by any executive officer, director or affiliate of MDI ENTERTAINMENT INC, except for the exercise by Mr. Todd Leavitt, a director of the Company, of options to purchase 50,000 shares of Common Stock.
Item 7.Purposes of the Transaction and Plans or Proposals.
Except as set forth in this Schedule 14D-9, MDI ENTERTAINMENT INC is not currently undertaking or engaged in any negotiations in response to the Offer that relate to (1) a tender offer for or other acquisition of MDI ENTERTAINMENT INC's securities by MDI ENTERTAINMENT INC, any subsidiary of MDI ENTERTAINMENT INC or any other person; (2) an extraordinary transaction, such as a merger, reorganization or liquidation, involving MDI ENTERTAINMENT INC or any subsidiary of MDI ENTERTAINMENT INC; (3) a purchase, sale, or transfer of a material amount of assets of the Company or any subsidiary of MDI ENTERTAINMENT INC; or (4) any material change in the present dividend rate or policy, or indebtedness or capitalization of MDI ENTERTAINMENT INC.
Except as set forth in this Schedule 14D-9, there are no transactions, resolutions of the Board, agreements in principle, or signed contracts in response to the Offer that relate to one or more of the events referred to in the preceding paragraph.
Item 8.Additional Information.
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Todd P. Leavitt
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Saferin, Przysiecki, Kline, Kowalczyk, Leavitt, Fineman, Malloy and Ms. Yensen is c/o MDI Entertainment, Inc., 201 Ann Street, Hartford, Connecticut 06103.
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Todd P. Leavitt