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MFUN Morgan Funshares (MM)

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Share Name Share Symbol Market Type
Morgan Funshares (MM) NASDAQ:MFUN NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Morgan FunShares Shareholders Approve Liquidation

03/11/2003 9:15pm

PR Newswire (US)


Morgan Funshares (NASDAQ:MFUN)
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Morgan FunShares Shareholders Approve Liquidation CLEVELAND, Nov. 3 /PRNewswire-FirstCall/ -- Morgan FunShares, Inc. announced today that its shareholders approved the complete dissolution and liquidation of the Company at a Special Meeting of Shareholders held Friday October 31st in Cleveland, Ohio. The plan of dissolution had previously been adopted by the Company's board of directors subject to shareholder approval. The Company announced that it has instructed its transfer agent to close its books against further stock transfers as of the end of trading on Friday November 7, 2003, and that its board of directors had set the liquidating distribution date as Friday November 14, 2003 to all shareholders of record as of November 7, 2003. The Company has requested that its shares be delisted from Nasdaq as of the close of business on the record date. The Company stated that it anticipates that the liquidating distribution to be mailed to shareholders on November 14, 2003 will be a first and final distribution. The Company stated that its board of directors has held back only a small sum, $5,000, against possible future Fund expenses. The Company stated that if there remains less than $.005 per share after all Fund expenses have been paid or provided for, the Company's board of directors has approved a charitable gift of the remainder to a suitable institution in memory of the Fund's deceased Chairman and Founder, Burton D. Morgan, to avoid the expense of a second mailing to shareholders. DATASOURCE: Morgan FunShares, Inc. CONTACT: Robert F. Pincus, President of Morgan FunShares, Inc., +1-216-274-5388

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