LogiMetrics, Inc. Press Release
October 24, 2002Source: LogiMetrics, Inc
LogiMetrics Appoints Liquidator
Friday October 25, 2002
5:00 pm ET
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Oct. 25, 2002--LogiMetrics, Inc. (OTCBB: LGMTA - News; "LogiMetrics" or the "Company") announced today that its Board of Directors has appointed a Recognition Group, LLC entity to effect the liquidation of the Company's business.
Last month, the Company announced that, based on the recommendation of a Special Committee of its Board of Directors, the Board had approved the liquidation and winding up of the Company's business. In connection with the appointment of the liquidator, all of the Company's current officers and directors have resigned effective immediately and have been replaced by representatives of the liquidator.
Interested parties should contact Recognition Group, LLC at the following address:
Recognition Group, LLC
114 5th Avenue, 4th Floor
New York, NY 10011
Tel: (212) 886-8650
As previously announced, the Company does not expect that stockholders will receive any liquidating dividend or distribution in connection with the liquidation of the Company's business.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. When used in this press release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Factors that could cause actual results to differ materially from the Company's expectations include those described in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact:
Recognition Group, LLC
Kaleil Isaza Tuzman
Charles Seely
212/886-8650
Source: LogiMetrics, Inc.