October 18, 2019
EMRISE CORPORATION having received the final remaining document required to confirm tax clearance has concluded the execution of its stockholder-approved voluntary plan of dissolution (the “Plan”), by initiating the distribution of the fifth and final liquidation dividend to its stockholders and winding down and dissolving the Company (the “Dissolution”). The Plan was approved by its stockholders at a special meeting held on June 25, 2015.
EMRISE instructed its paying agent, VStock Transfer, LLC, to begin the process of distributing the fifth and final liquidation dividend of $626,032, or $0.0585 (5.85 cents) per share to its stockholders on October 17, 2019 (the “Final Distribution”). Including the Final Distribution, there have been five liquidation dividends paid to EMRISE stockholders in the aggregate amount of $14,987,517, or $1.3785 per share of common stock. The total number of shares of EMRISE common stock issued and outstanding and used in the calculation of all five liquidation dividends was 10,872,337.
The Dissolution means that all the Company’s business operations and activities have ceased, and no further public announcements will be made by EMRISE.