SUNNYVALE, CA (PRWEB) December 27, 2012
Leadis Technology, Inc. (PINKSHEETS: LDIS) today announced that, in accordance with the Plan of Dissolution approved by the Company’s stockholders on October 23, 2009, its Board of Directors has approved a second liquidating distribution in the amount of $0.23 per share of common stock. The distribution will be made to the stockholders of record as of December 21, 2012. Computershare Trust will serve as the paying agent for the distribution. The Company is working with Computershare in an effort to complete distribution by December 31, 2012.
The Company may make an additional liquidating distribution prior to winding up its affairs under Delaware law, however, the specific timing and amount of any future liquidating distribution(s) is not yet known.
About Leadis Technology, Inc.
On October 23, 2009, Leadis Technology’s stockholders approved the Plan of Dissolution of the company, which provides for the complete liquidation for the company under Delaware law. An initial liquidating distribution was made to stockholders of the company on December 14, 2009 in the amount of $0.95 per share of common stock. The company may make one additional liquidating distribution prior to winding up its affairs under Delaware law, however, the specific timing and amount of any future liquidating distribution(s) is not yet known.
Cautionary Statement About Forward Looking Statements
This press release contains information about Leadis Technology's future expectations, potential liquidating distributions, liquidation obligations, and plans that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the company's current expectations with respect to future events and are based on its current assumptions and information currently available. Please refer to the risk factors detailed in the company's proxy statement filed with the Securities and Exchange Commission on October 2, 2009. These forward-looking statements are neither promises nor guarantees, and the company disclaims any obligation to update the forward-looking statements.