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BRIEF-Family Memorials announces settlement with debentureholders, going private transaction
September 19, 2017 / 3:54 PM / 2 months ago

BRIEF-Family Memorials announces settlement with debentureholders, going private transaction

Sept 19 (Reuters) - Family Memorials Inc:

* Family Memorials Inc. announces proposed settlement with debentureholders and going private transaction

* It proposes to redeem convertible secured debentures of company in principal amount of $4.4 million

* Entered into letter of intent with Scott C. Kellaway, president of company, pursuant to which company will be taken private​

* Board of directors of company will form a special committee comprised of independent directors to evaluate amalgamation​

* Proposes to pay $3.4 million in full satisfaction of all liability to debentureholders holding debentures in principal amount of $4.4 million

* To be taken private by way of amalgamation with a company to be incorporated by Scott C. Kellaway to form an amalgamated co​mpany Source text for Eikon: Further company coverage:

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