Spectrum Group International, Inc. Announces Final Distribution Date of Spinoff of A-Mark Precious Metals, Inc.
2014年3月13日 - 3:17AM
ビジネスワイヤ（英語）
Spectrum Group International, Inc. (OTCQB:SPGZ) (“SGI” or the
“Company”) announced today that its previously disclosed spinoff of
A-Mark Precious Metals, Inc. (“A-Mark”), its precious metals
trading business, will occur on March 14, 2014 (the “Distribution
Date”).
On the Distribution Date, stockholders of record of SGI on
February 12, 2014, will receive one share of A-Mark common stock
for each four shares of SGI common stock held. On the first
trading day after the Distribution Date, March 17, 2014, A-Mark’s
shares of common stock will commence trading on the NASDAQ Global
Select Market under the symbol "AMRK." Up to and
including the distribution date, the SGI common stock will trade on
the “regular-way” market; that is, with an entitlement to shares of
A-Mark common stock distributed pursuant to the distribution. SGI
common stock will not trade on an ex-distribution market; that is,
without an entitlement to shares of A-Mark common stock distributed
pursuant to the distribution.
Fractional shares of A-Mark common stock will not be
distributed. Instead, the distribution agent will aggregate
fractional shares into whole shares, sell the whole shares in the
open market at prevailing rates and distribute the net cash from
proceeds from the sales pro rata to each holder who would otherwise
have been entitled to receive a fractional share. SGI has received
an opinion of counsel to the effect that the spinoff will be
tax-free to SGI stockholders for U.S. federal income tax purposes,
except for any cash received in lieu of fractional shares.
Based on the number of shares of SGI common stock outstanding as
of February 26, 2014, and applying the distribution ratio, the
number of shares of A-Mark’s common stock estimated to be
distributed in the spinoff is approximately 7,402,663, subject to
the treatment of fractional shares.
SGI stockholders are not required to take any action to receive
A-Mark common stock in the distribution, and they will not be
required to surrender or exchange their SGI shares.
About Spectrum Group International,
Inc.
Spectrum Group International, Inc. (together with its
subsidiaries, “we,” the “Company” or “SGI”) is a global trading and
collectibles network. We are a trader of precious metals and an
auctioneer of coins and wine, serving both collectors and dealers.
We are also a merchant/dealer of certain collectibles. Our
collectibles offerings span the price spectrum from modest to
ultra-high end. Furthermore, we offer loans to coin dealers,
collectors and investors backed by their precious metals, rare
coins, and other collectibles as collateral.
Our Trading business is conducted through A-Mark Precious
Metals, Inc. (“A-Mark”) and its subsidiaries. A-Mark is a
full-service precious metal trading company, and an official
distributor for many government mints throughout the world. A-Mark
products include gold, silver, platinum and palladium for
storage and delivery in the form of coins, bars, wafers and grain,
and our services include financing, leasing, consignment, hedging
and various customized financial programs. A-Mark’s subsidiary,
Collateral Finance Corporation, provides financing on a wide array
of bullion and numismatic currency products.
Our Collectibles business operates as an integrated network of
leading companies concentrating on numismatic (coins) and rare and
fine vintage wine. We have offices and auction houses in North
America, Europe and Asia. In addition to traditional live auctions,
we also conduct Internet and telephone auctions. Spectrum Group’s
Collectibles companies in the numismatics field include Stack’s
Bowers Numismatics LLC (dba Stack’s Bowers Galleries), a rare
coin and currency auction house, based in Irvine, California.
Safe Harbor Statement
This press release contains forward-looking statements with
respect to the distribution date for the spinoff of A-Mark, within
the meaning of the Private Securities Litigation Reform Act of 1995
and the Securities Exchange Act of 1934. The actual distribution
date may differ from the anticipated timing for the spinoff, or may
not occur, because of the failure to satisfy the conditions to the
spinoff or for other reasons set forth in the Registration
Statement on Form S-1, and the included prospectus, filed by A-Mark
with the Securities and Exchange Commission with respect to the
spinoff. These documents are available on the SEC’s website located
at www.sec.gov
Spectrum Group International, Inc.Greg Roberts,
949-748-4800groberts@spectrumgi.com
Spectrum (CE) (USOTC:SPGZ)
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