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SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
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NETRO CORPORATION
(Name of Registrant as Specified in its Charter)
C. ROBERT COATES
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(Name of Person(s) Filing Proxy Statement if other than the Registrant)
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3) Filing Party: C. Robert Coates
4) Date Filed: July 12, 2002
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SOURCE: C. Robert Coates
C. Robert Coates Asks Directors to Tender for Netro Shares at $3.50
LAKE FOREST, Il., July 12, 2002 - C. Robert Coates announced that he was
contacting each of the directors at Netro Corporation (NASDAQ: NTRO) today to
ask them to tender for Netro's shares at $3.50 a share next week. He said,
"Netro's CEO Gideon Ben-Efraim issued a press release on Tuesday, July 9
commenting on my efforts to increase Netro's share price and improve Netro's
profitability."
"Here's what Ben-Efraim said: "In light of Mr. Coates, comments we want to
assure our shareholders that the board is committed to enhancing long-term
shareholder value. The board has considered and will continue to consider all
reasonable actions for achieving this objective."
"We are encouraged that Netro's directors are now considering all reasonable
actions for enhancing shareholder value. But Ben-Efraim does not comment on
any specific measures to increase today's share price.
"How much longer do Netro's long suffering shareholders need to endure these
low stock prices before we actually hear what Netro's CEO and board plan to do
to address our concerns? This could all be so easy. Netro's board could
announce a self tender for 30,000,000 shares at $3.50 after its board meeting
on July 16. Then the company could use another $100,000,000 of our
shareholders' cash hoard to buy back shares in the market any time the price
fell below $3.50. In addition, the CEO and directors could communicate a
reasonable business plan to investors that would focus on Project Angel and
selling into the Chinese market. Perhaps the board could even provide
shareholders with an antidote for the poison pill they gave to us last year.
"Every shareholder would benefit from this approach. In fact, we would have to
start a new website to recognize the CEO and directors' good efforts and remove
them from our baddirectors.com website. Come on Gideon Ben-Efraim, Thomas
Baruch, Irwin Federman, Lewis Chakrin, Sanford Robertson, Richard Moley and
Shirley Young. Do what is right for the shareholders! Enhance shareholder
value now and in the future! Then we can all join together in supporting the
shareholders and the company's efforts."
Netro shareholders can call Todd Martin at the Robert Coates Group with any
comments, suggestions or questions. Todd can be reached at 1-800-295-0841,
extension 210. Or they can e-mail us at tmartin@rcoates.com.
SOURCE: C. Robert Coates