IRVINE, Calif., Dec. 20, 2016 (GLOBE NEWSWIRE) -- ACME Communications, Inc. (Pink Sheets:ACME) today announced that pursuant to the Plan of Liquidation approved by its shareholders in December 2012, its Board has approved a final distribution of $0.0432 per share, payable in cash on December 30, 2016 to shareholders of record as of December 26, 2016. Based on the Company’s outstanding shares of common stock of 16,046,763, the total amount of the distribution will be approximately $693,000.
The liquidation distribution is being treated as a return of capital. Following the distribution, the Company will have extinguished all known and potential liabilities and have no remaining assets. The Company expects to be dissolved by December 31, 2016.
The Company anticipates it will post its final annual report for the year ended December 31, 2016 on Monday, January 2, 2017 via its website at www.acmecommunications.com.
About ACME Communications, Inc.
ACME Communications, Inc. was formed in 1997 as a television station operator and grew to twelve television stations by 2002. Beginning in 2003, the Company began an organized process of exiting from the business. Its shares are traded over-the-counter under the symbol: (Pink Sheets:ACME).
The matters discussed in this press release include forward-looking statements. In addition, when used in this press release, the words "will", "expects" and similar expressions are intended to identify forward looking statements. Such statements are subject to a number of risks and uncertainties. Many factors could cause actual results in the future to differ materially and adversely from those described in the forward-looking statements. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.
CONTACT: ACME Communications, Inc. Thomas D. Allen Director, President and Corporate Secretary 714-245-9499 / email@example.com
Source:ACME Communications, Inc