Brief: LMP Automotive Holdings Inc And Its Affiliates Enters Into An All Cash Asset Sale Agreements

LMP Automotive Holdings

08/08/2022 12:50

Aug 8 (Reuters) - LMP Automotive Holdings Inc  LMPX.O :
    * LMP AUTOMOTIVE HOLDINGS, INC. AND ITS AFFILIATES ENTERS
INTO AN
ALL CASH ASSET SALE AGREEMENTS AND INTENDS TO SEEK STOCKHOLDER
APPROVAL FOR PLAN OF LIQUIDATION
    * LMP AUTOMOTIVE HOLDINGS INC - ANTICIPATES THAT EXPECTED
CLOSING
OF SALE WILL OCCUR IN OCTOBER OF THIS YEAR
    * LMP AUTOMOTIVE HOLDINGS - PLAN OF LIQUIDATION WILL ALLOW
LMP
BOARD TO SELL ALL OF CO'S ASSETS, DISTRIBUTE NET PROCEEDS TO
STOCKHOLDERS, DISSOLVE CO
    * LMP AUTOMOTIVE HOLDINGS INC - UPON FINALIZATION OF PLAN OF
LIQUIDATION EXPECT CO WILL BE ABLE TO DISTRIBUTE ABOUT $115
MILLION TO $126 MILLION TO SHAREHOLDERS
    * LMP AUTOMOTIVE HOLDINGS INC - ENTERED INTO DEALERSHIP AND
REAL
ESTATE ASSET SALE AGREEMENTS
    * LMP AUTOMOTIVE HOLDINGS -  DEAL TO SELL KIA DEALERSHIPS IN
PORT
CHARLOTTE, FL, CAPE CORAL, FL AND BECKLEY, WV, SUBARU DEALERSHIP
IN BECKLEY, WW,
    * LMP AUTOMOTIVE HOLDINGS INC - DEAL TO SELL CHEVROLET
DEALERSHIP
IN BECKLEY, WV AND GENERAL MOTORS DEALERSHIP IN BECKLEY, WV
    * LMP AUTOMOTIVE -  BOARD RECOMMENDS AT SPECIAL MEETING
STOCKHOLDERS VOTE TO APPROVE PROPOSED PLAN OF LIQUIDATION OF
CO'S ASSETS, DISSOLUTION OF CO

Source text for Eikon:  ID:nGNX3PT7MD 
Further company coverage:  LMPX.O