EDCI Holdings, Inc. (EDCI) Announces Sale of Kings Mountain Facility

NEW YORK, NY / ACCESSWIRE / March 23, 2016 / EDCI Holdings, Inc. (OTC: EDCI) (the “Company” or “EDCI”), today announced that one of the Company’s subsidiaries has completed the sale of its Kings Mountain manufacturing facility in North Carolina for a sale price of $3.3 million. Taking into account closing costs, the Company and its subsidiaries have approximately $4.0 million dollars after the closing.

Due to the pending appeal related to an indemnity claim from the City of Phoenix against another of the Company’s subsidiaries, the Company will not be evaluating a distribution until such time as that matter is resolved. Oral arguments for the appeal occurred on March 9, 2016.

EDCI reminds its stockholders that effective January 25, 2013, EDCI has closed its transfer books. Since that time, certificates representing shares of our Common Stock are not assignable or transferable on the Company’s books except by will, intestate succession or operation of law, and the Company will not issue any new stock certificates, other than replacement certificates. Transactions effected on the Pink Sheets or otherwise are not, accordingly, legally transfers of EDCI stock. Reference to the EDCI Pink Sheet trading ticker in this press release has been made in an effort to ensure the press release is made available on a website that the owners of EDCI stock as of January 25, 2013 have previously used to access updates on EDCI. EDCI is not otherwise undertaking to make any future information available, whether pursuant to any Pink Sheets / OTC Markets / or other disclosure standards.

About EDCI Holdings, Inc.

EDCI Holdings, Inc. (OTC: EDCI) is engaged in carrying-out its Plan of Complete Liquidation and Dissolution (the “Plan of Dissolution”), which was approved by EDCI’s stockholders on January 7, 2010.

CONTACT:

Matthew K. Behrent
Executive Vice President of Corporate Development
(646) 201-9549

SOURCE: EDCI Holdings, Inc.

ReleaseID: 438119