The LGL Group, Inc. (NYSE MKT: LGL) (the “Company”), today announced that management will hold an investor conference call on Tuesday, August 13, 2013, at 10:00 a.m. ET. The purpose of the call is to discuss the Company’s second quarter 2013 earnings results and current business activities, and to provide an update on the Company’s strategic review process. The Company also noted that holders of record as of 4:30 p.m. ET today, July 29, 2013, will receive warrants as a dividend to all stockholders upon their issuance on or around August 6, 2013, as was previously announced.
Presentation materials will be available on the LGL website on Monday, August 12, 2013, by 6:00 p.m. ET: www.lglgroup.com. A detailed announcement covering the Company’s Q2 2013 earnings will be issued after market close on Monday, August 12, 2013.
Participants are invited to “attend” the online meeting using Conferencing Center LIVE; or access the conference call at (800) 862-9098 for domestic callers and (785) 424-1051 for international callers. The participant code is LGLIR813.
To attend the event, participants are asked to click on the following link: Join the meeting. Participants may also copy and paste the following information into their web browser: https://www.livemeeting.com/cc/conferencingevent/join .The meeting ID is: LGLIR813; the entry code is: ATTEND. Warrant Dividend Record Date is July 29, 2013, 4:30 p.m. ET In the context of the Special Committee’s ongoing strategic review process, the Company announced the final terms of a warrant dividend on July 17, 2013, as follows: (i) each holder of the Company’s common stock as of 4:30 p.m. ET on the record date, July 29, 2013, will receive five warrants for each share of common stock owned, (ii) the warrants will be “European style warrants” and will only be exercisable on the earlier of (x) their expiration date, which will be the fifth anniversary of their issuance, and (y) such date that the 30-day volume weighted average price per share, or VWAP, of the Company’s common stock is greater than or equal to $15.00, and (iii) 25 warrants will entitle their holder to purchase one share of the Company’s common stock at an exercise price of $7.50. The Company intends for the warrants to be listed and traded on the NYSE MKT separately from the Company’s common stock, subject to NYSE MKT approval. The warrants are expected to be issued on or around August 6, 2013, and in aggregate, will be exercisable for approximately 522,000 shares of the Company’s common stock.
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