Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - THREE FIVE SYSTEMS INC | tfsi_8k.htm |
Exhibit 99.1
Three-Five
Systems, Inc. Announces New Anticipated Date of Final Liquidating
Payment
PHOENIX,
Ariz., February 19, 2010 — Three-Five Systems, Inc. (Other OTC: TFSIQ.PK) (the
“Company”) announced today that it anticipates making its final liquidating
distribution to certain of its stockholders on or about February 24,
2010. The Company had been awaiting confirmation from the Depository
Trust Company (“DTC”) of the length of additional time DTC needed to prepare for
the distribution.
The
distribution will be made in accordance with the terms of the Amended Joint Plan
of Reorganization of the Company that was confirmed by the United States
Bankruptcy Court (the “Plan”) on August 30, 2006. The Company
announced the final liquidating distribution on December 29,
2009. Except for the payment date, there have been no changes in the
terms or conditions associated with the distribution, including the amount
payable to stockholders.
About
Three-Five Systems, Inc.
The
Company previously conducted the business of providing specialized electronics
manufacturing services to original equipment manufacturers
(OEMs). The Company has ceased conducting business
operations. Its only activities consist of liquidating its assets and
preparing for dissolution pursuant to the Plan. “Three-Five Systems”
and “TFS-DI” are trademarks of the Company. All other trademarks used
herein are the property of their respective owners.
Forward-Looking
Statements
Certain
statements contained in this press release may be deemed to be forward-looking
statements under federal securities laws, and the Company intends that such
forward-looking statements be subject to the safe-harbor created
thereby. Such forward-looking statements include the expectation that
the Company will make the liquidating distribution within the time period
indicated herein. The Company cautions that all forward-looking
statements are qualified by important factors that could cause actual results to
differ materially from those reflected by the forward-looking statements
contained herein. Such factors include: (a) unanticipated expenses or
claims relating to the liquidation of the Company’s assets or the liquidating
distribution; (b) delays by parties other than the Company, including the
Company’s transfer agent, paying agent, the Pink OTC Markets Inc. quotation
service or the SEC; and (c) other unanticipated risks and uncertainties
affecting the actions described herein.
Inquiries
concerning this press release can be made by contacting the Company’s counsel at
602-264-9224.