Coffee Sipping Big Board Stocks

[timhyma]

Sold CTCM today at $1.89 for a 63% loss. This was in my trading account, so will be able to use it on my taxes.

9:09 am CTC Media sale of CTC Investments LLC to UTV-Management reduced modestly; awating license from US Treasury; sees return of capital to shareholders at low end of range (CTCM) :

•Co has received the final tranche of the purchase price for its sale of 75% of the outstanding participation interests in its subsidiary CTC Investments LLC to UTV-Management LLC. An additional $50 million was held back and was subject to adjustment based on the performance of the business during the second half of 2015 and agreed indemnity obligations. The Company has received $42.5 million of this additional consideration in cash. The $7.5 million reduction in the total purchase price reflects adjustments for several factors, including identified underinvestment and deferred payments by the group in the second half of 2015 compared with the agreed target budget; a reduction in working capital compared with the agreed target, reflecting the impairment of certain older programming content; and indemnification in connection with the settlement of a commercial litigation matter. The total consideration received in connection with the sale was $193.1 million.

•Following the merger, the Company would cease to be a publicly traded company.


•The Company has requested a license from the Office of Foreign Assets Control of the U.S. Treasury Department to authorize the proposed merger transaction; such license has not yet been received. Given the uncertainty regarding the timing of receipt of such license, if at all, the Company is unable to estimate at this time the per share amount that would ultimately be returned to stockholders in such merger, but currently expects that it would be at the lower end of the upper half of the range approved by stockholders of $1.77 to $2.19 per share.