HUDSONVILLE, Mich., Jan. 5, 2016 /PRNewswire/ -- USSPI Media, Inc. announced that at the special shareholders meeting on December 30, 2015 its shareholders voted to approve the Company's proposed dissolution and liquidation effective year-end of 2015.
The vote "FOR" the dissolution and liquidation was approved by both a majority of the outstanding shares as well as a majority of the shares not held or controlled by Phillip Miller or Stan Henry.
The Company filed a Certificate of Dissolution with the Delaware Secretary of State at 4:00 pm EST on December 31, 2015 and closed its books for the transfer of shares at that time. The liquidation process is expected to finalize mid-January after all closing costs are accounted for and paid. The funds from the liquidation will be transferred to the Company's transfer agent, Continental Stock Transfer & Trust Company, which in turn will send a letter of transmittal to all shareholders as of the date of dissolution. Shareholders will be expected to surrender their certificates and will receive a liquidation distribution. The liquidation distribution is expected to be in the range of $.28 to $.29 per share after closing costs associated with the dissolution.
USSPI Media, Inc.
4675 – 32nd Avenue
Hudsonville, MI 49426
CONTACT: Phil Miller, Chairman and CEO of USSPI Media, Inc.,
Statements in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. The forward-looking statements can generally be identified by words such as "believes," "anticipates," "expects" or words of similar meaning. Forward-looking statements also include statements relating to the Company's future performance, such as future prospects, revenues, profits and cash flows. The forward-looking statements are subject to risks and uncertainties, which may cause actual results to be materially different from any future performance suggested in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements.
SOURCE USSPI Media, Inc.