Cutter & Buck and New Wave Group Complete Merger
09 Juin 2007 - 12:30AM
PR Newswire (US)
SEATTLE, June 8 /PRNewswire-FirstCall/ -- Cutter & Buck Inc.
(NASDAQ:CBUK) announced today that it has closed the previously
announced transaction with New Wave Group AB (Publ). At a special
meeting of shareholders held today at the Company's headquarters,
in excess of 99% percent of the votes cast (over 77% percent of the
outstanding shares of the Company's common stock) were voted in
favor of the transaction. Following receipt of shareholder approval
for the transaction at the special meeting, Newport Acquisition
Corporation, a wholly owned subsidiary of New Wave, was merged with
and into Cutter & Buck, and Cutter & Buck became a wholly
owned subsidiary of New Wave. The Company's prior shareholders will
receive $14.38 in exchange for their shares of Cutter & Buck
common stock. Cutter & Buck will continue its operations in
Seattle, Washington. "We are pleased that our shareholders viewed
the transaction with New Wave to be the right move for our
Company," said Ernest R. Johnson, Cutter & Buck's Chief
Executive Officer. "By completing the merger, we have put Cutter
& Buck into position to move forward with a strong partner and
the potential for a substantial market presence in Europe."
Shareholders will receive written instructions from the Paying
Agent with respect to the proper method of exchanging stock
certificates for the merger consideration. Pending receipt of such
instructions, shareholders should not forward stock certificates to
the Company. About Cutter & Buck Inc. Cutter & Buck Inc.
designs and markets upscale sportswear under the brands "Cutter
& Buck", "ANNIKA" and "CBUK". The Company sells its products
primarily to golf and specialty retailers, corporations and
international distributors and licensees. The Company also sells
directly to consumers through its wholly owned subsidiary, Cutter
& Buck Direct LLC. Cutter & Buck products feature
distinctive, comfortable designs, high quality materials and
manufacturing and rich detailing. Forward-Looking Statements This
press release contains forward-looking statements, including
statements regarding the closing of the acquisition of Cutter &
Buck by New Wave Group AB (Publ). These statements are based on the
opinions and estimates of management at the time the statements are
made and are subject to risks and uncertainties which may cause
actual results to differ materially from those anticipated in the
forward-looking statements. The words "predict," "believe,"
"expect," "intend" and "anticipate" and similar expressions,
identify forward-looking statements, but their absence does not
mean that a statement is not forward-looking. Such statements are
not guarantees of future performance and are subject to risks,
uncertainties and assumptions that are difficult to predict.
Factors that could affect those results include, but are not
limited to, the "Risk Factors" described in the Company's annual
reports on Form 10-K, quarterly reports on Form 10-Q and other
filings with the Securities and Exchange Commission, all of which
are available on the Company's investor relations page on the
internet at http://www.cutterbuck.com/. Readers are cautioned not
to place undue reliance on any forward-looking statement. The
forward-looking statements contained in this release speak only as
of the date of this release. Except as may be required by
applicable law, Cutter & Buck undertakes no obligation to
update publicly any forward-looking statements to reflect new
information, events or circumstances after the date of this release
to reflect the occurrence of unanticipated events. DATASOURCE:
Cutter & Buck Inc. CONTACT: Ernie Johnson, CEO, or Michael
Gats, CFO, +1-206-622-4191, both of Cutter & Buck Inc. Web
site: http://www.cutterbuck.com/
Copyright
Cutter & Buck (NASDAQ:CBUK)
Graphique Historique de l'Action
De Août 2024 à Sept 2024
Cutter & Buck (NASDAQ:CBUK)
Graphique Historique de l'Action
De Sept 2023 à Sept 2024
Real-Time news about Cutter & Buck (MM) (NASDAQ): 0 recent articles
Plus d'articles sur Cutter & Buck Inc. (MM)