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

LGL Strategic Review Process Underway

The LGL Group, Inc. (NYSE MKT:LGL) (the “Company”) today announced an update as to the status of its strategic review process. As previously announced on June 13, 2013, the Company has been approached by an investment group interested in acquiring certain parts of its sole operating subsidiary, M-tron Industries, Inc. (known as “MtronPTI”), a designer and manufacturer of advanced frequency control components for the Aerospace, Defense (“Aero/Defense”) and Internet Communications Technology (“ICT”) markets. It was also announced that the Company’s Board of Directors has organized a special committee to work with MtronPTI management to consider every reasonable option presented, as well as conduct a strategic review of MtronPTI’s operations.

Mr. Anderson said, “The strategic review process is underway, as we are exploring options to unlock the potential of LGL and our subsidiary, MtronPTI. In addition to review of the outside interest to acquire a portion of our operations, we are analyzing our options, which could include segmentation or discontinuation of certain elements of MtronPTI’s operations. Our ultimate goal remains to execute on the opportunities that create additional value for stockholders.”

In the context of the ongoing strategic review, the Company also announced that it has postponed the record date of the warrant dividend, which was also announced on June 13, 2013, to allow time for additional analysis of the terms and conditions of the warrants with the goal of providing enhanced value to stockholders through the warrant dividend. It is expected that a new record date and a further update regarding the warrant dividend will be announced in the coming weeks.

The Company also highlighted its existing stock repurchase program which remains in place. As previously announced, on August 29, 2011, the Company’s Board of Directors authorized the repurchase of up to 100,000 shares of the Company’s common stock. As of March 31, 2013, the Company had repurchased a total of 50,454 shares of common stock under this program. Subject to certain safe harbor rules, the timing, amounts, and manner in which the Company can repurchase shares is tied to prevailing trading volumes and other limitations, which includes a general limitation to 25% of the average daily trading volume based on the most recent prior four weeks. The Company also reiterated its intention to file a new shelf registration statement with the SEC to replace its existing registration statement, which is set to expire in November of this year.

1 of 2

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 $95.01 0.00%
FB $99.51 -0.24%
GOOG $677.65 -0.75%
TSLA $148.25 0.18%
YHOO $26.82 -0.85%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs