Sports Resorts International, Inc. Announces Results of Tender Offer, Files to Terminate Registration of Shares with Securities
06 Abril 2006 - 1:09PM
PR Newswire (US)
OWOSSO, Mich., April 6 /PRNewswire-FirstCall/ -- Sports Resorts
International, Inc. (the "Company") (OTC:SPRI) (BULLETIN BOARD:
SPRI) today announced the final results of its tender offer to
purchase any and all of the Company's outstanding common stock at a
price of $1.00 per share net to seller in cash, without interest.
The Company commenced the tender offer on March 1, 2006 and it
expired at 5:00 p.m. EST on March 29, 2006. A total of 767,982
shares were properly tendered and not withdrawn. The Company has
accepted for purchase all 767,982 shares at a price of $1.00 per
share. Payment for shares accepted for purchase will be made
promptly. Donald J. Williamson and his wife and children, who
together beneficially own 98 percent of the Company's aggregate
outstanding stock, did not tender any of the shares held by them.
Following the expiration of the offer, the Company filed a Form 15
with the Securities and Exchange Commission to terminate the
registration of its shares under the Securities Exchange Act of
1934. 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. DATASOURCE: Sports Resorts International, Inc.
CONTACT: Investor Relations: Greg Strzynski of Sports Resorts
International, Inc., +1-989-725-8354
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