Big City Radio to File Certificate of Dissolution and Voluntarily Delist from the American Stock Exchange on December 23, 2003.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 16, 2003 Big City Radio, Inc. (AMEX AMEX See: American Stock Exchange : YFM YFM Yorkshire Fund Managers (UK) ) today announced that it plans to file a certificate of dissolution with the Delaware Secretary of State as of the close of business on December 23, 2003, in accordance with its previously announced plan of complete liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy and dissolution. Big City Radio intends to delist its Class A common stock from the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. and to close its stock transfer books and discontinue recording transfers of its common stock as of the close of business on the date on which Big City Radio files the certificate of dissolution with the Delaware Secretary of State. After this final record date, there will be no further trading of the Class A common stock on the American Stock Exchange and Big City Radio will not record any further transfers of its common stock on the books of Big City Radio except by will, intestate succession intestate succession In the law of inheritance, transmission of property or property interests of a decedent as provided by statute, as distinguished from transfer according to the decedent's will. , or operation of law. Therefore, shares of Big City Radio common stock will not be freely transferable nor issuable upon exercise of outstanding options. All distributions from Big City Radio, if any, after the final record date will be made to Big City Radio's stockholders pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. their respective holdings of common stock as of the final record date. As soon as possible after the final record date, Big City Radio intends to cease filing reports with the SEC under the Securities Exchange Act of 1934 as permitted by SEC rules. As of the date of this release, Big City Radio cannot predict with certainty the amount, if any, it may have available for distribution to its stockholders. The amount available for distribution depends on several factors, some of which are beyond Big City Radio's control. A description of the plan and information about related matters is set forth in an information statement that was filed with the SEC and mailed to stockholders on December 3, 2003. Statements in this release relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc matters that are not historical facts are forward-looking statements. Such forward-looking statements involve risks, uncertainties, and other factors, which may cause the actual results, performance or achievements of Big City Radio to be materially different from those expressed or implied by such forward-looking statements. Risks and uncertainties involving the plan of liquidation and dissolution relate to the timing and amount of distributions, if any, to stockholders, the timing of the filing of the certificate of dissolution with the Delaware Secretary of State, the delisting of Big City Radio's Class A common stock and the suspension of Big City Radio's duty to file reports with the SEC. |
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