GeoMet Announces its Final Distribution to the Holders of its Common and Preferred Stock Under its Plan of Dissolution
GEOMET (GMET)
US:NASDAQ Investor Relations:
geometinc.com/ir/media.aspx
Company Research
Source: GlobeNewswire
SPRING, Texas, Dec. 06, 2018 (GLOBE NEWSWIRE) -- GeoMet, Inc. (OTC: GMET; OTC: GMETP) (“GeoMet” or the “Company”) today announced its final distribution to the holders of its Series A Convertible Redeemable Preferred Stock, par value $0.001 per share (the “Preferred Stock”), and the holders of its common stock, par value $0.001 per share (the “Common Stock”). On November 16, 2018, the Company filed a Motion for Final Distribution to Stockholders in the Court of Chancery of the State of Delaware (the "Court") requesting that the Court authorize the Company to make a final liquidating distribution to its stockholders in an aggregate amount of $2,808,928. On December 5, 2018, the Court entered an Order that, among other things, determined that (i) GeoMet shall continue its existence, solely for the purpose of making a final distribution to its stockholders (the “Final Distribution”), until the close of business on December 21, 2018 and the close of business on the date that the Final
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