The Alpine Group, Inc. Announces Liquidation Distribution of $.40 per Share
Marketwire - Wed Sep 17, 11:25AM CDT
The Alpine Group, Inc. (PINKSHEETS: APNI) announced today that its Board of Directors had approved a distribution to shareholders of $.40 per share pursuant to the Company's Plan of Liquidation adopted last year. The liquidation distribution is anticipated to be made on or about October 15, 2014 to shareholders of record on October 9, 2014. On April 30, 2014, the Company made an initial liquidation distribution of $.25 per share and based on current information the Company stated that it anticipates further cash distributions in 2015. Its remaining non-cash investment is in the form of equity and debt issued by Synergy Cables, Ltd. Due to the adverse financial results and outlook for that entity, the distributable value of the Company's interests in Synergy is highly doubtful both as to value, form of distribution, if any, and timing.