NEW YORK--(BUSINESS WIRE)--Sep. 28, 2015--
Gleacher & Company, Inc. (OTC Pink: GLCH) (the “Company”) announced
today that the Board has determined to make a third liquidating
distribution to Company stockholders in the amount of $4.00 per share of
the Company's common stock (approximately $24.7 million in the
aggregate). The record date for this distribution is October 12, 2015.
The Company anticipates that the payment date will be on or about
October 23, 2015.
Total liquidating distributions, including this third distribution,
since the filing of the Company’s Certificate of Dissolution in July
2014 amount to $8.55 per share of the Company’s common stock
(approximately $52.9 million in the aggregate).
The Company also announced today that it has posted updates to its
website, including financial information. The Company's website can be
found at the following address: www.gleacher.com.
About Gleacher & Company
Gleacher & Company, Inc. is a dissolved corporation under the laws of
the State of Delaware.
This press release contains “forward-looking statements.” These
statements are not historical facts but instead represent the Company’s
beliefs or plans regarding future events, many of which, by their
nature, are inherently uncertain and outside of the Company’s control.
The Company’s forward-looking statements involve known and unknown
risks, uncertainties and other important factors, including the risks
and other factors identified herein, on the Company’s website and in
other public disclosures made by the Company from time to time. As a
result, the Company’s actual actions, performance or achievements or
results may differ materially from those expressed or implied by these
forward-looking statements. Forward-looking statements include, without
limitation: statements regarding the dissolution and liquidation of the
Company, including the Company’s expectations with regard to liquidating
distributions; and the Company’s estimated range of aggregate recoveries
from the liquidation. Although the Company believes that the
expectations reflected in any forward-looking statements are reasonable,
it cannot guarantee future events or results. Except as may be required
under federal law, the Company undertakes no obligation to update any
forward-looking statements for any reason, even if new information
becomes available or other events occur.
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Source: Gleacher & Company, Inc.
Gleacher & Company, Inc.
Investor Relations, 212-273-7100