RADNOR, Pa., March 16, 2018 (GLOBE NEWSWIRE) -- Actua Corporation (OTCQB:ACTA) filed definitive proxy materials with the U.S. Securities and Exchange Commission (SEC) today in connection with its special meeting of stockholders to approve a plan of dissolution that was approved by Actua’s Board of Directors in February 2018.
Actua sold its interests in VelocityEHS Holdings Inc. and BOLT Solutions Inc. in the fourth quarter of 2017 and sold Folio Dynamics Holdings, Inc. in the first quarter of 2018. In light of the successful consummation of those transactions, its distribution of a substantial portion of the net proceeds from those transactions, and its desire to cease operations, Actua’s Board has recommended that Actua wind down its operations, monetize its remaining holdings and other assets and enter into a formal plan of dissolution. The Board has unanimously determined that the plan of dissolution is advisable, and encourages Actua stockholders to vote to approve it.
The special meeting of stockholders is scheduled to be held on April 18, 2018 at 10:00 a.m. ET at The Radnor Hotel, 591 East Lancaster Avenue, St. Davids, Pennsylvania 19087. Actua stockholders of record as of the close of business on March 15, 2018 will be entitled to vote their shares at the special meeting either in person or by proxy.
For more information on the definitive proxy materials and the special meeting of stockholders, please go to www.actua.com and look for the icon labeled “Special Meeting of Stockholders.”
Safe Harbor Statement under Private Securities Litigation Reform Act of 1995
The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, the valuation of our remaining non-cash assets by analysts, investors and other market participants, the effect of economic conditions generally, developments in the markets in which our remaining minority-held businesses operate, the impact of any potential acquisitions, dispositions or other strategic transactions (including in connection with the negotiation, execution and consummation thereof), our ability to manage capital resources effectively, our ability to monetize our remaining minority investments and otherwise execute on our plan of dissolution, and other risks and uncertainties detailed in Actua’s filings with the SEC. These and other factors may cause actual results to differ materially from those projected.