HOLLISTON, Mass., March 24 /PRNewswire/ -- Nyer Medical Group, Inc., ("Nyer") announced that on March 22, 2010, pursuant to the Plan of Dissolution, the Board of Directors of the Company approved a record date of May 3, 2010, and a payment date of May 14, 2010, for the liquidating distribution to holders of common stock of the Company as of such record date. The liquidating distribution is expected to be in the range of $1.84 and $2.00 per share.
For further information contact Mark Dumouchel (508) 429-8506, extension 16.
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 Plan of Dissolution is expected to be completed in approximately 60 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. In addition, this report states the expected range of the liquidating distribution. The actual amount paid may change based on a number of variables, including any expenses incurred by the Company in connection with the dissolution, changes in the final federal and state income tax liabilities, and changes to the number of shares outstanding at the time of the dissolution. 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.
Nyer Medical Group, Inc.