VDC Engages The Staubach Company for Sale/Leaseback Transaction.ATLANTA -- Video Display Corporation(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :VIDE), a leading U.S. designer and manufacturer of specialty display devices, today announced the retention of The Staubach Company of Addison, Texas, as exclusive agent to represent the Company in a sale and leaseback sale and leaseback The sale of a fixed asset that is then leased by the former owner from the new owner. A sale and leaseback permits a firm to withdraw its equity in an asset without giving up use of the asset. Also called leaseback. package of all Company owned real estate. Video Display Corporation currently owns and operates five manufacturing plants in Ohio, Pennsylvania, New York and Louisiana which are valued by the Company to be in excess of $10,000,000. All proceeds from the sale, if consummated, after provision for taxes on gains and repayment of less than $1,000,000 in mortgage liens will be initially applied toward the Company's outstanding bank debt. CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Ron Ordway stated, "Ownership of real estate has been an excellent long term investment for the Company. At this juncture, however, numerous other opportunities for investment, which may expand our display business, need to be considered. Converting our equity in real estate to enhance the growth of VDC appears to be a more logical choice at this time and we believe The Staubach Company is the ideal firm to work with on this project." About The Staubach Company The Staubach Company is a market leading global real estate advisory firm with 1,400 people in more than 60 offices throughout North America and 11,800 professionals worldwide though its DTZ Staubach Tie Leung partnership delivering services and solutions to its multinational clients. About Video Display Corporation Video Display Corporation designs, develops and manufactures unique solutions for display requirements for military, medical and industrial use with emphasis on high end training and simulation applications. Its product offerings include ruggedized AMLCD (Active Matrix LCD) See active matrix. and CRT (1) (C RunTime) See runtime library. (2) (Cathode Ray Tube) A vacuum tube used as a display screen in a computer monitor or TV. The viewing end of the tube is coated with phosphors, which emit light when struck by electrons. displays as well as projection systems utilizing VDC's Marquee(TM) and ESCP ESCP Ecole Supérieure de Commerce de Paris ESCP European Society of Clinical Pharmacy ESCP European Society of Coloproctology (Edinburgh, UK) ESCP Erosion and Sediment Control Plan ESCP European Small Claims Procedure line of projectors. Video Display Corporation operates eight display design and manufacturing plants with additional sales facilities throughout the United States and Europe. For more information, visit the Company's web site at www.videodisplay.com. This document contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. |
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