Ravenswood Management Company, L.L.C.

March 13, 2009 18:19 ET

Ravenswood Management Company, L.L.C.

TORONTO, ONTARIO--(Marketwire - March 13, 2009) - Ravenswood Management Company, L.L.C. of Massapequa, New York, USA, announces that on March 12th, 2009, two investment partnerships in which Ravenswood Management Company, L.L.C. (the "Company") is the general partner of acquired 70,900 common shares of (TSX:CWH) Chartwell Technology, Inc. (the "Reporting Issuer") at a price of $1.38 CAD per common share. Subsequently, the Company now owns 1,878,000 common shares of the Reporting Issuer.

Ravenswood Management Company L.L.C. is the general partner for The Ravenswood Investment Company, L.P. and Ravenswood Investments III, L.P. These limited partnerships focus on investments in undervalued and out-of-favor micro, small and mid-cap value stocks.

The Ravenswood Investment Company, L.P. directly owns 1,270,690 common shares, or approximately 6.9% of the issued and outstanding shares of the Reporting Issuer on a non-diluted basis. Ravenswood Investments III, L.P. directly owns 607,310 common shares, or approximately 3.3% of the issued and outstanding shares of the Reporting Issuer on a non-diluted basis. The two Limited Partnerships together own an aggregate of 1,878,000 common shares of the Reporting Issuer, which represents approximately 10.2% of the issued and outstanding shares of the Reporting Issuer on a non-diluted basis. As the General Partner of The Ravenswood Investment Company, L.P. and Ravenswood Investments III, L.P. The L.L.C. manages the assets of both partnerships.

About Robert E. Robotti

Robert E. Robotti, manager of The Ravenswood Investment Company, L.P. and Ravenswood Investments III L.P., is also the Managing Director of Robotti & Company, Inc., which wholly owns Robotti & Company Advisors, LLC. Robotti & Company is based in New York City, USA.

Contact Information

  • Ravenswood Management Company, L.L.C.
    Robert E. Robotti, Manager
    (212) 986-4800