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Nyer Medical Group, Inc. (NYER) Announces Liquidating Distribution



5/13/2010 7:58:19 AM

HOLLISTON, Mass., May 13 /PRNewswire/ -- Nyer Medical Group, Inc., ("Nyer") announced that on May 12, 2010, pursuant to its previously announced, shareholder-approved Plan of Dissolution, the Board of Directors of the Company approved a sole and final liquidating distribution of $2.08 per common share to holders of the Company's common stock as of record date. As previously disclosed, the record date is May 3, 2010.

The Company expects to begin making this distribution on May 20, 2010 (previously disclosed as May 14, 2010) to all stockholders of record as of the close of business on May 3, 2010, including the Depository Trust Company, which is the entity that holds the Company's common stock for stockholders who own shares through a broker. In order to receive their pro rata portion of the distribution, stockholders must present satisfactory evidence of their share ownership.

As previously disclosed, Nyer is in the process of the orderly wind down and dissolution of the Company pursuant to the Plan of Dissolution, which is described more fully in the Company's Proxy Statement dated December 17, 2009, and is expected to be completed in approximately 30 days.

Safe Harbor for Forward-Looking Statements

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward looking statements are based on the Company's present expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons. For example, this press release states that the distribution is expected to be made beginning May 20. However, if stockholders do not provide satisfactory evidence of their share ownership, the payment of their pro rata portion of the distribution may be delayed or may not occur at all. In addition, this press release states that the Plan of Dissolution is expected to be completed in approximately 30 days. In fact, the closing of the Plan of Dissolution is subject to various conditions and contingencies as are customary in plans of dissolution in the United States. If these conditions are not satisfied or the specified contingencies occur, the Plan of Dissolution may be delayed or may not be completed. For these reasons, among others, you should not place undue reliance upon forward looking statements. Except as required by law, the Company does not assume any obligations to update any forward looking statements as a result of new information, changed circumstances, future events or otherwise.


Read at BioSpace.com


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