ADDvantage Technologies Group, Inc. Shareholders Approve Sale of Cable TV Business
ADDvantage Technologies Group, Inc. (AEY)
US:NASDAQ Investor Relations:
addvantagetechnologies.com/investor-relations/4544760689
Company Research
Source: GlobeNewswire
BROKEN ARROW, Okla., May 30, 2019 (GLOBE NEWSWIRE) -- ADDvantage Technologies Group, Inc. (“ADDvantage” or the “Company”) announced today that its shareholders voted to approve the sale of the Company’s Cable TV segment at the Special Meeting held on May 29, 2019. The shareholder proposal was approved by 99% of the 7.8 million shares voted. The sale has been approved by the Board of Directors and remains subject to the finalization of documentation, meeting certain customary closing conditions and the transfer of funding. The transaction is expected to close within the next 10 days. Specifically, ADDvantage’s shareholders agreed to sell to Leveling 8, Inc. all of the outstanding shares and limited liability company membership interests, as applicable, of Tulsat, LLC (“Tulsat”), NCS Industries, Inc. (“NCS”), ADDvantage Technologies Group of Missouri, Inc. (“ComTech”), ADDvantage Technologies Group of Texas, Inc. (“Tulsat-Texas”), and Tulsat-Atlanta, L.L.C. (“Tulsat-Atlanta”), col
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