ELSE » Topics » SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

This excerpt taken from the ELSE DEF 14A filed Mar 24, 2006.

SECTION 16(a) BENEFICIAL OWNERSHIP
REPORTING COMPLIANCE

        Pursuant to Section 16(a) of the Exchange Act, the Company’s directors, its executive officers, and any persons who beneficially own more than 10% of the Company’s Common Stock are required to report their initial ownership of Common Stock and subsequent changes in that ownership to the Securities and Exchange Commission. Specific due dates for those reports have been established, and the Company is required to disclose in this Proxy Statement any failure to file by those due dates during fiscal 2005. Based upon a review of such reports furnished to the Company, or written representations that no reports were required, the Company believes that all of those filing requirements were satisfied with respect to fiscal 2005.

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