Tix Corporation Announces Adoption of Employee Stock Ownership Plan and Amendment to Stockholder Rights Agreement
16 Diciembre 2011 - 8:00PM
Marketwired
Tix Corporation (the "Company" or "Tix") (OTCQX: TIXC) (PINKSHEETS:
TIXC), a leading entertainment company providing discount ticketing
services and branded event merchandising, announced that on
December 16, 2011, the Company adopted the Tix Corporation Employee
Stock Ownership Plan (the "ESOP"), effective as of January 1, 2011,
for the benefit of the Company's eligible employees.
The primary purpose of the ESOP is to provide participating
employees with the opportunity to share in the growth of the
Company, to accumulate capital for their future economic security,
and to acquire beneficial stock ownership interests in the Company.
The ESOP is a stock bonus plan under Section 401(a) of the Internal
Revenue Code of 1986, as amended (the "Code"), and an employee
stock ownership plan under Section 4975(e)(7) of the Code and
Section 407(d)(6) of the Employee Retirement Income Security Act of
1974, as amended. The ESOP is administered by the Company and a
board of trustees as designated under the terms of the ESOP and
related trust agreement.
The Company also announced today that on December 16, 2011, its
stockholder rights agreement, dated April 1, 2011, was amended
following adoption by its Board of Directors of such amendments.
The amendments generally clarify certain provisions regarding,
among other things, employee stock ownership plans, persons exempt
and grandfathered under the agreement and persons acting in concert
for purposes of the rights agreement. A copy of the amended rights
agreement is posted on the Company's website at
www.tixcorp.com.
About Tix Corporation
Tix Corporation is an entertainment company providing discount
ticketing services and branded event merchandising. It currently
operates eleven discount ticket stores in Las Vegas under the
Tix4Tonight marquee, which offer up to a 50 percent discount for
same-day shows, concerts, attractions and sporting events, as well
as reservations for discount dining. The Company is also engaged in
branded merchandise development and sales activities related to
museum exhibitions and other events, including the King
Tutankhamun, Cleopatra and Real Pirates tours as well as selling
themed souvenir memorabilia and collectors' items in specialty
stores in conjunction with the specific events and venues.
Safe Harbor Statement
Except for the historical information contained herein, certain
matters discussed in this press release are forward-looking
statements which involve risks and uncertainties. These
forward-looking statements are based on expectations and
assumptions as of the date of this press release and are subject to
numerous risks and uncertainties which could cause actual results
to differ materially from those described in the forward-looking
statements. Certain of these risks and uncertainties are discussed
in the Company's various filings with the OTCQX. The Company
assumes no obligation to update these forward-looking
statements.
Investor Relations Contact: Steve Handy Chief Financial
Officer Tix Corporation (818) 761-1002
Tix (CE) (USOTC:TIXC)
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