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CONCORD CAMERA CORP FILES (8-K) Disclosing Other Events

June 25, 2014



Item 8.01. Other Events.

On June 24, 2014, the Company's board of directors approved a liquidating distribution of $0.02 per share to the shareholders of record at the close of business on May 11, 2009 (the "Record Date") in accordance with the previously announced Plan of Dissolution and Liquidation (the "Plan of Liquidation"). As previously announced, in accordance with the Plan of Liquidation, the Company's stock transfer books were closed at the close of business on May 11, 2009 and no transfers of its common stock were recorded after that time. The Company currently anticipates that payment of the liquidating distribution will commence in June 2014 and shareholders of record on the Record Date will receive a communication from the Company's stock transfer agent in July 2014 regarding the distribution. The Company intends to use its remaining funds to complete the Plan of Liquidation and does not anticipate any future distributions.

Cautionary Statement About Forward Looking Statements

The statements contained in this Form 8-K that are not historical facts are "forward looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995), which can be identified by the use of forward-looking terminology such as: "estimates," "projects," "anticipates," "expects," "intends," "believes," "plans," "forecasts" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties, including statements reported in this Form 8-K regarding the timing and amount of (i) the liquidating distribution, (ii) the communication from the Company's stock transfer agent, (iii) future liquidating distributions, if any, and (iv) the completion of the Plan of Liquidation. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including the failure of the Company's stock transfer agent to communicate with the Company's shareholders or to effectuate the liquidating distribution in a timely manner or at all, the Company's ability to monetize or otherwise dispose of its remaining non-cash assets in a timely manner or at all, the Company's ability to settle or otherwise resolve its liabilities and obligations, including contingent liabilities, with its creditors, and costs associated with executing and the time required to complete the Plan of Liquidation.

For a discussion of some additional factors that could cause actual results to differ, see the risks discussed under "Risk Factors" and the disclosures in the Company's Annual Report on Form 10-K for the fiscal year ended June 28, 2008 and subsequently filed reports and in "Certain Risks Related to the Dissolution and the Plan of Liquidation" and the disclosures in the Definitive Proxy Statement for the 2008 Annual Shareholders' Meeting filed with the Securities and Exchange Commission on November 7, 2008. The Company wishes to caution the reader that these forward-looking statements, including, without limitation, statements regarding the amount of any liquidating distributions, the timing of any liquidating distributions, and other statements contained in this Form 8-K regarding matters that are not historical facts, are only estimates or predictions. No assurance can be given that future results will be achieved.

Actual events or results may differ materially as a result of risks facing the Company or actual results differing from the assumptions underlying such statements. Any forward-looking statements contained in this Form 8-K represent the Company's estimates only as of the date of this Form 8-K, or as of such earlier dates as are indicated herein, and should not be relied upon as representing the Company's estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, unless required by applicable law, the Company specifically disclaims any obligation to do so, even if its estimates change.


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Source: Edgar Glimpses


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