Update: Notice Of Dissolution Of Engex, Inc. (symbol exgi)

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Mar 19, 2018, 08:30 ET

NEW YORK, March 19, 2018 /PRNewswire/ -- As announced on March 1, 2018, the Board of Directors of Engex, Inc. (ticker symbol: EXGI) (the "Company") has determined that the Company should cease its business, be dissolved and wind up its affairs. The holders of a majority of the outstanding voting stock of the Company have approved a plan pursuant to which the Company will cease its business, distribute its assets to its stockholders, be dissolved and wind up its affairs (the "Plan"). The Company is in the process of filing all necessary documents to carry out the Plan, and will make its initial distribution of its marketable assets effective March 21, 2018 to holders of record at the close of business on March 21, 2018. Transfer of shares on the books of the Company has ceased. The process of winding up the Company's affairs will be undertaken by officers of the Company, in lieu of requiring the services of an Escrow Agent or Trustee. Ultimate net distribution of the proceeds of sale of any assets that are not readily marketable will be made to holders of record on March 21, 2018 as soon as those assets can be converted to cash, and as soon as the Company has discharged any outstanding liabilities and paid the expenses of winding up.

Engex, Inc. is a non-diversified closed end investment company registered under the Investment Company Act of 1940.