Venter Decides Against Seeking GTI Seat

William Venter, the South African investor who bought a 38% interest in GTI Corp. in February, has decided not to seek representation on GTI’s board of directors, GTI said in proxy material mailed recently to shareholders. Terms of Venter’s acquisition of 2.1-million GTI shares for $6 million and a 20% interest in one of Venter’s companies gave him such a right. GTI’s annual shareholder meeting will be held May 8 in Universal City, a break from tradition in that GTI’s annual meetings over the last several years have been held in San Diego. Items on the meeting agenda include a proposal for re-incorporation in Delaware and a plan to indemnify GTI officers and directors from liabilities incurred by virtue of their company duties. The proxy material also said GTI Chairman James La Fleur received an accrued bonus of $93,900 in 1986 in addition to his annual salary of $181,000. Without stating the reason, the proxy statement said La Fleur deferred receipt of the bonus as well as 25% of his salary. Directors William Ivans and Alvin Wineman also deferred receipt of their $11,500 directors’ fees in 1986 for an unspecified period.