Sports Resorts International, Inc. Announces Tender Offer
20 Septiembre 2005 - 8:01AM
PR Newswire (US)
OWOSSO, Mich., Sept. 20 /PRNewswire-FirstCall/ -- Sports Resorts
International, Inc. (the "Company") (NASDAQ:SPRI) today announced
an offer to purchase any and all of the Company's outstanding
shares of $0.01 par value common stock at $1.00 per share,
effective Sept. 21, 2005. The offer is subject to the conditions as
set forth in the Company's Offer to Purchase for Cash, (the
"Offer") which expires at 5:00 P.M. EDT on Oct. 21, 2005, unless
extended. Though the Offer is being made to all shareholders,
Donald J. Williamson and his wife and children, who together
beneficially own 98 percent of the Company's aggregate outstanding
stock, have advised the Company that they do not intend to tender
any of the shares held by them. Following completion of the Offer,
the Company intends to delist its shares from the Nasdaq Smallcap
Market, terminate the registration of its shares under the
Securities Exchange Act of 1934, and cause the Company to become a
private company. Currently, the Company through its wholly-owned
subsidiaries, manufacturers and markets high-quality drop-in
bedliners and other truck accessories for the original equipment
manufacturers and automotive aftermarket business and owns and
operates a multi-purpose motor-sports facility located near
Brainerd, Minn. Certain statements included in this press release
are "forward-looking" statements, such as those relating to
anticipated events or activities. The Company's performance and
financial results could differ materially from those reflected in
the forward-looking statements due to financial, economic,
regulatory and political factors as described in the Company's
filings with the Securities and Exchange Commission. Therefore,
current or prospective investors are cautioned not to place undue
reliance on any such forward-looking statements. The Company does
not undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information
or future events. For further information contact Investor
Relations at 989-725-8354. DATASOURCE: Sports Resorts
International, Inc. CONTACT: Greg Strzynski, +1-989-725-8354, for
Sports Resorts International, Inc.
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