Security Capital Corporation Announces the Halting of Trading of Its Shares by the American Stock Exchange
2005年6月24日 - 5:49AM
ビジネスワイヤ(英語)
Security Capital Corporation (AMEX: SCC) (the "Company") announced
today that the American Stock Exchange halted trading of the
Company's shares on June 22, 2005 due to a marked increase in the
trading price and a higher than average trading volume of the
shares. The Company knows of no corporate reason for such
volatility of its stock. As the Company announced on June 7, 2005,
the Board of Directors, upon the recommendation of the Special
Committee of the Board of Directors, has switched to a formal sale
process for the Company and has retained UBS Securities LLC to
conduct the process. As the Company announced on June 13, 2005, the
Company received a revised offer from Robert J. Bossart, Jonathan
R. Wagner, Richard T. Kurth and certain other current and former
members of the senior management team of CompManagement, Inc.,
along with their other equity partners, to acquire all of the
outstanding capital stock of the Company at a price of $13.00 per
share and referred such offer to UBS Securities LLC for
consideration in connection with the formal sale process. As the
Company also announced on June 13, 2005, the Company does not
intend to make any further announcements regarding the receipt of
future offers. In addition, the Company does not intend to update
the market with respect to any further developments relating to the
formal sale process until it is appropriate to do so. The Company's
two reportable segments are employer cost containment and health
services, and educational services. The employer cost containment
and health services segment consists of WC Holdings, Inc., which
provides services to employers and their employees primarily
relating to industrial health and safety, industrial medical care,
workers' compensation insurance and the direct and indirect costs
associated therewith. The educational segment consists of Primrose
Holdings, Inc., which is engaged in the franchising of educational
child care centers, with related activities in real estate
consulting and site selection services in the Southeast, Southwest
and Midwest. This release contains "forward-looking" statements
within the meaning of the "safe harbor" provisions of the Private
Litigation Reform Act of 1995. Such statements are based on
management's current expectations and are subject to a number of
factors and uncertainties which could cause actual results to
differ materially from those described in the forward-looking
statements. Such factors and uncertainties include, but are not
limited to: future legislative changes which could impact the laws
governing workers' compensation and medical malpractice insurance
in the various states in which the Company's employer cost
containment and health services segment operates, the Company's
ability to enhance its existing services and successfully introduce
and market new services, new service developments by the Company's
competitors, market acceptance of new services of both the Company
and its competitors, competitive pressures on prices, the ability
to attract and retain qualified personnel, interest rates, the
Company's ability to attract qualified franchisees or access to
financing for these franchisees, the effects on the Company if a
lender to one of the Company's subsidiaries utilizes remedies
available to it upon an event of default on loans at one of the
Company's subsidiaries, the Company's ability to file its Annual
Report on Form 10-K for the fiscal year ended December 31, 2004 and
its Form 10-Q for the quarter ended March 31, 2005, the Company's
ability to regain compliance with the AMEX's continued listing
standards and decisions relative to and the outcome of any such
decisions regarding strategic alternatives with respect to
maximizing stockholder value and enhancing stockholder liquidity.
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