This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

VDC Signs LOI Agreement To Sell Division

ATLANTA, Jan. 17, 2013 (GLOBE NEWSWIRE) -- Video Display Corporation (Nasdaq:VIDE), a leader in providing niche market specialty displays for the defense, industrial and medical markets, today announced that the Company had reached a preliminary agreement for the sale of one of its four primary operating subsidiaries.

Company CEO, Ron Ordway, stated that the Board of Directors had approved a non-binding Letter of Intent for the Purchase and Sale of the division in an all cash transaction with the potential purchaser.

CEO Ordway further stated that the information pertaining to the sale is being released at this time to further inform shareholders of the progress being made in regard to the previously announced intent of management and the Board of Directors to consider transactions that were determined to enhance Shareholder value.

He further stated that a Definitive Purchase Agreement remains subject to further Due Diligence on the part of the prospective purchaser, which review may result in either finalizing or canceling the proposed transaction. The due diligence period is set to expire on March 15, 2013 unless further extended upon agreement of the parties. 

It was further stated that the Company had received several indications of interest in the purchase of additional VDC operating divisions, but no LOI's or other agreements had been finalized or agreed to at the present time.

There remains a considerable risk that the above transaction, or any other transaction involving the sale of a VDC division or subsidiary, may not be consummated.
CONTACT: Ronald D. Ordway
         Chief Executive Officer and Chairman

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs