Santa Monica Media Corporation to Distribute Trust Proceeds on Tuesday, September 15, 2009
September 11 2009 - 9:00AM
Business Wire
On August 27, 2009, Santa Monica Media Corporation (NYSE-Alt:
MEJ), (NYSE-Alt: MEJ.U), (NYSE-Alt: MEJ.WS) (“SMMC”), a special
purpose acquisition company (SPAC) that completed its IPO in April
2007 held a special meeting of its stockholders. At the meeting
stockholders voted in favor of three proposals that allowed for the
continuation of the existence of the corporation as well as for the
distribution of the trust proceeds to the stockholders holding
shares of its common stock issued in its initial public offering
(“IPO Shares”).
The distribution of trust proceeds of $100,724,231 or
$8.057938494 per IPO Share is scheduled for Tuesday September 15,
2009. At the close of business on that day the NYSE Amex will
suspend trading. Distributions will be made to IPO shareholders of
record at the close of business on Monday September 14, 2009 rather
than as of August 5, 2009 as indicated in the Company’s press
release on August 31, 2009.
The Company will be filing a Notification of Removal from
Listing on Form 25 with the Securities and Exchange Commission for
the purpose of deregistering and delisting its securities under the
Securities Exchange Act of 1934. Upon suspension of trading, the
Company will also commence voluntary delisting procedures to delist
the Company’s securities from NYSE Amex. The Company’s securities
will no longer trade on the NYSE.
About Santa Monica Media Corporation
Santa Monica Media Corporation was a blank check company
organized for the purpose of acquiring one or more operating
businesses in the communications, media, gaming and/or
entertainment industry. As a result of the stockholders meeting,
the Company will continue to seek acquisitions but without the
restrictions applicable to special purpose acquisition
companies.
This release contains forward-looking statements including
financial projections as to operating cost savings and the
Company’s plans. These forward-looking statements are not
historical facts but rather are based on current expectations and
projections about the Company and management’s beliefs and
assumptions. Words such as “may,” “will,” “anticipates,” “expects,”
“intends,” “plans,” “believes,” “ seeks” and “estimates” and
variations of these words and similar expressions are intended to
identify forward-looking statements. The Company’s actual results
may differ materially from those projected in these forward-looking
statements as a result of a number of factors. Readers of this
release are cautioned not to place undue reliance on these
forward-looking statements.
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