Access Plans Announces Estimated Amount of Special Dividend
May 25 2012 - 3:31PM
Marketwired
Access Plans, Inc. (OTCBB: APNC), a leading membership benefits
marketing company, announced that the estimated amount of its
previously announced special dividend is $0.08 per share. The
special dividend will be payable on May 31, 2012 to the record
holders of Access Plans common stock on May 30, 2012, prior to the
closing of Access Plans' merger with Affinity Insurance Services,
Inc., a subsidiary of Aon Corporation. The Ex-dividend date will be
May 25, 2012. The exact amount of the special dividend will be
determined on May 29, 2012. As previously disclosed, the merger is
expected to close during the second quarter of 2012 and is subject
to various closing conditions.
Access Plans also announced that the estimated per share merger
consideration that will be payable to Access Plans shareholders in
connection with the merger is $3.28. The exercise of previously
issued options to acquire Access Plans Stock increased the number
of shares outstanding and, as a result, lowered the per share
estimated merger consideration from the previously announced
estimate of $3.30, while the $360,000 in cash received as a result
of the option exercises increased the amount available for the
special dividend.
About Access Plans, Inc.
Access Plans, Inc. (OTCBB: APNC) is a leading membership
benefits marketing company. The Wholesale/Retail Plans distribution
channel specializes in turnkey, private-label membership benefit
plans that provide discount products and services, protection
benefits and retail services to more than 1 million customers in
the United States and Canada. For more information, please visit:
www.accessplans.com.
Safe Harbor Statement under the Private
Securities Litigation Reform Act:
This press release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, Section 27A of the Securities Act of 1933, as amended
and pursuant to the Private Securities Litigation Reform Act of
1995. Such forward-looking statements may relate to financial
results and plans for future business activities, and are thus
prospective. Such forward-looking statements are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from future results expressed or implied by such
forward-looking statements. Among the important factors that could
cause actual results to differ materially from those indicated by
such forward-looking statements are competitive pressures, loss of
significant customers, the mix of revenue, changes in pricing
policies, delays in revenue recognition, lower-than-expected demand
for the Company's products and services, general economic
conditions, and the risk factors detailed from time to time in the
Company's periodic reports and registration statements filed with
the Securities and Exchange Commission. Any forward-looking
statements are made pursuant to the Private Securities Litigation
Reform Act of 1995 and the Company assumes no responsibility for
updating such forward-looking statements after the date of this
release.
Contact: Access Plans, Inc. Robert Hoeffner 405-579-8525
bhoeffner@accessplans.com
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