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BRIEF-Fred's Inc provides update on agreement with Alden
April 24, 2017 / 9:45 PM / 7 months ago

BRIEF-Fred's Inc provides update on agreement with Alden

April 24 (Reuters) - Fred’s Inc:

* Fred’s Inc- cooperation agreement with Alden provides 1 alden designee will resign from board if Alden’s ownership falls below 10 pct of outstanding shares

* Fred’s - cooperation agreement with Alden provides each party not to sue other, subject to certain exceptions; each party not to disparage other party

* Fred’s - cooperation agreement with Alden provides Alden grants co right of first refusal for block sales of shares of common stock of 5pct or more

* Fred's - cooperation agreement with Alden provides co to reimburse Alden amount not to exceed $600,000 for expenses incurred for execution, effectuation of deal Source text:(bit.ly/2oEUEuj) Further company coverage:

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