EDCI Holdings, Inc. Schedules 4Q2009 and FY2009 Earnings Release and Conference Call, To Provide Update on EDCI Plan of Dissolution

Author
SySAdmin
Posted
March 1, 2010
Views
2068

Page All:

Page 1
EDCI Holdings, Inc. Schedules 4Q2009 and FY2009 Earnings Release and Conference Call, To Provide Update on EDCI Plan of Dissolution

NEW YORK, March 1 -- EDCI Holdings, Inc. (NASDAQ: EDCI) ("the Company" or "EDCI"), today announced that on March 5, 2010, it will report its financial results for the 4Q2009 and FY2009 and give an update on the EDCI Plan of Dissolution ("Plan of Dissolution'), which was approved by EDCI's shareholders on January 7, 2010.  EDCI is the majority shareholder of Entertainment Distribution Company, LLC ("EDC"), a European provider of supply chain services to the optical disc market. The Plan of Dissolution does not directly involve the operating business, assets, liabilities or corporate existence of EDC and its subsidiaries, however, during EDCI's minimum three-year dissolution period, EDCI will continue to seek value for its investment in EDC by exploring strategic alternatives and seeking, as appropriate, cash distributions, subject to applicable legal requirements.

The Company will host a conference call to discuss its 4Q2009 and FY2009 financial results and the Plan of Dissolution on Monday, March 8, 2010, at 9:00 a.m. EST. To access the conference call, please dial (800) 642-1740 or (706) 634-7533 (international callers) and conference code 57353520. A live webcast of the conference call will also be available on the Company's corporate Web site, located at http://www.edcih.com.

Clarke Bailey, Chief Executive Officer, will host the call.  Additional call participants will be as follows:

  --  Matthew Behrent, EVP, Corporate Development and Legal Counsel
  --  Roger Morgan, EVP, International Operations of EDC
  --  John Fitzgerald, Chief Operating Officer of EDC GmbH
  --  Michael Nixon, Office of the CFO, Chief Accounting Officer and
      Corporate Controller
  --  Kyle Blue, Office of the CFO, Treasurer

A replay of the conference call will be available through midnight EST on Wednesday, March 17, 2010. The replay can be accessed by dialing (800) 642-1687 or (706) 645-9291 (international callers). The conference code for the replay is 57353520.

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  These statements include, without limitation, statements regarding the timing of certain actions contemplated by the Plan of Dissolution.  When used in this press release, the words "will," "expects," or "intends to" and other similar expressions are intended to identify such forward-looking statements.  Forward-looking statements are based on the opinions, expectations, forecasts, assumptions and estimates of management at the time the statements are made and are subject to risks and uncertainties that could cause actual results or the level of activity, performance or achievements expressed or implied by such statements to differ materially from our expectations of future results, level of activity, performance or achievements expressed or implied by those statements.  Such differences may be caused by factors such as, but not limited to, EDCI's ability to sell its assets in a timely manner or at all pursuant to its Plan of Dissolution; EDCI's ability to settle, make reasonable provision for, or otherwise resolve its liabilities and obligations; a change in economic conditions; the risks associated with EDCI's dependence on Universal Music Group's cooperation regarding any transaction involving EDC; and our Board of Director's ability to abandon or delay the implementation of the plan of dissolution.  More information about these and other important factors that could affect our business and financial results is included in the "Risk Factors" section of our quarterly report on Form 10-Q we filed with the Securities and Exchange Commission ("SEC") on October 30, 2009 and the proxy statement we filed with the SEC on November 16, 2009, as well as EDCI's other filings with the SEC. EDCI undertakes no obligation to publicly update or revise any forward-looking statements.

About EDCI Holdings, Inc.

EDCI Holdings, Inc. (NASDAQ:EDCI). is engaged in a final Plan of Complete Liquidation and Dissolution ("Plan of Dissolution") that was approved by EDCI's shareholders at a Special Meeting held on January 7, 2010. EDCI is also the majority shareholder of Entertainment Distribution Company, LLC ("EDC"), a European provider of supply chain services to the optical disc market. The Plan of Dissolution does not directly involve the operating business, assets, liabilities or corporate existence of EDC and its subsidiaries, however, during EDCI's minimum three-year dissolution period, EDCI will continue to seek value for its investment in EDC by exploring strategic alternatives and seeking, as appropriate, cash distributions, subject to applicable legal requirements. For more information, please visit http://www.edcih.com.

Source: EDCI Holdings, Inc.
   

CONTACT:  Kyle Blue, +1-317-348-2100

Web Site:  http://www.edcllc.com/

Title

Medium Image View Large