Ambassadors Group Announces Dissolution Date and Initial Liquidating Distribution
October 20 2015 - 4:00PM
Ambassadors Group, Inc. (NASDAQ:EPAX) announced today that the
company intends to file a certificate of dissolution with the
Delaware Secretary of State and to close its stock transfer books
and discontinue recording transfers of its common stock as of the
close of business on October 23, 2015. The company also plans
to file a Form 25 with the Securities and Exchange Commission on
such date to delist its common stock from The NASDAQ Stock Market.
The dissolution of the company was approved by its stockholders
at a special meeting held on October 13, 2015. In connection with
the dissolution, the company’s Board of Directors has approved an
initial liquidating distribution of $2.85 per share of the
company’s common stock. The distribution will be paid on or
about October 29, 2015 to stockholders of record as of the
effective date of the certificate of dissolution (including trades
through the effective date that settle after the effective
date).
Subject to uncertainties inherent in the winding up of its
business, Ambassadors Group may make one or more additional
liquidating distributions, as the company’s required contingency
reserves may be released over time. However, no assurances can be
made as to the ultimate amounts to be distributed, if any, or the
timing of any such distributions. Any additional liquidating
distributions will be made to the stockholders of record as of the
effective date of the certificate of dissolution (including trades
through the effective date that settle after the effective
date).
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains “forward-looking statements.”
These statements are not historical facts but instead represent the
Company’s belief or plans regarding future events, many of which,
by their nature, are inherently uncertain and outside of the
Company’s control. The Company’s forward-looking statements
are subject to various risks and uncertainties, including the risks
and other factors identified herein and in other public disclosures
made by the Company from time to time, including in the Company’s
periodic and current reports and other filings made by the Company
with the Securities and Exchange Commission. As a result, the
Company’s actual results may differ materially from those expressed
or implied by these forward-looking statements.
Forward-looking statements include, without limitation: statements
regarding the proposed dissolution and liquidation of the Company
and the delisting of the Company’s common stock, including the
anticipated timing of filing the certificate of dissolution and the
Form 25, and the initial liquidating distribution to be paid
to stockholders. Forward-looking statements involve known and
unknown risks, uncertainties and other important factors that could
cause our actual results, performance or achievements, or industry
results, to differ materially from the Company’s expectations of
future results, performance or achievements expressed or implied by
such forward-looking statements. Although the Company
believes that the expectations reflected in any forward-looking
statements are reasonable, it cannot guarantee future events or
results. Except as may be required under federal law, the
Company undertakes no obligation to update any forward-looking
statements for any reason, even if new information becomes
available or other events occur.
ABOUT AMBASSADORS GROUP, INC.
Ambassadors Group, Inc. (NASDAQ:EPAX), located in Spokane,
Washington, was an education and student travel company.
Contact:
Lisa Netz
509-568-7800
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