Concepts Direct, Inc., Announces Plan of Complete Dissolution and Liquidation
NIWOT, Colo., Feb. 27, 2015 /PRNewswire/ -- Concepts Direct, Inc. (the "Company") (OTCPink: CDIR) hereby announces that its board of directors and shareholders approved a Plan of Complete Dissolution and Liquidation and has filed a Certificate of Dissolution with the Delaware Secretary of State causing the dissolution of the corporation to be effective on February 28, 2015. The Company has instructed its transfer agent, Wells Fargo Shareowner Services, to close the Company's stock transfer books as of 5:00 p.m. EST on February 28, 2015 ("Final Record Date") and to no longer process any stock transfer requests after such time which shall be the final record date for determination of Company shareholders entitled to receive liquidating distributions under the Company's Plan of Complete Dissolution and Liquidation.
Within five (5) days after the Final Record Date, the Company will mail to shareholders of record on the Final Record Date materials with information describing the details of the liquidation and information and directions on what shareholders must do in order to receive the proceeds of the liquidation. Pursuant to the Plan of Complete Dissolution and Liquidation, all shares of Company capital stock are deemed cancelled as of the Final Record Date and all distributions to Company shareholders pursuant to such plan are deemed to be in complete cancellation of all outstanding shares of the Company's stock.
SOURCE Concepts Direct, Inc.
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