Lawndale Capital Management said that Mace was adopting certain changes to its board and corporate-governance policies to avoid a proxy fight between the two parties. As a result, Lawndale has agreed to withdraw its previous requests and support a proposed six-member slate for Mace's 2007 annual meeting.

The proposed slate includes two of the four independent directors nominated by Lawndale: Dennis Raefield and Gerald LaFlamme; one independent director submitted by Mace: Jack Mallon; and three current board members: Mark Alsentzer, Dr. Constantine Papadakis and Louis Paolino Jr. Lawndale said Mace will expand its board to six directors from five by the end of October and will appoint Raefield as an independent director. Lawndale Capital holds 1,574,479 shares (9.6%).

Mace Security International (MACE) Lawndale Capital said that it intends to nominate four independent directors to the board. Lawndale holds 1.57 million shares (9.6%).

nvestor Richard Barone will support dissident shareholder Lawndale Capital Management's proposal to expand Mace's board to seven members. Barone said that Mace's nominating committee chairman, Mark Alsentzer, had offered to nominate him to the five-person board, replacing Matthew Paolino, in return for his supporting the company's proposed slate at the annual meeting in December. Barone, however, urged Mace not to oppose Lawndale's proposal. Barone, through his Ancora Advisors and affiliates, owns 8.55% of Mace.

From Barron's 7-2-07:

"A group including Ancora Capital raised its position to about 1.31 million shares (8.58%) from the 1.06 million reported on Nov. 30, 2006."

Lawndale Capital currently owns 7.4% of the company. It intends to withhold its vote for all director nominees at Mace's annual meeting (yesterday). It also requested that the board take several steps to improve corporate governance, including appointing independent directors.