Thresher Industries, Inc. (THRR)

[Crafty55]

Thresher Industries Inc. Moving Forward with Sale of Company
11:30a ET March 16, 2010 (PR NewsWire)

Thresher Industries, Inc has been considering an offer that they received on March 9, 2010 to purchase their company. Subsequent to a special meeting of the Board of Directors of Thresher Industries (Pink Sheets: THRR), it was announced that the proposed offer to sell the company was approved. As stated previously, in the opinion of the Board of Directors this offer represents an extremely attractive offer with a suggested settlement that is significantly above the current market price range. Corporate attorneys for Thresher Industries have advised the Board of Directors that they can act on this offer without shareholder approval. The Board of Directors has been in contact with the major shareholders for the company and all parties have agreed with the action of the board to consent to the sale for a price of $0.01 for all outstanding shares. This is a premium price compared to the recent trading range for the company. The anticipated completion and closing of the deal could be as soon as April 10, 2010.


it was announced that the proposed offer to sell the company was approved.

Meaning that they internally approved that they would sell the company if a buyer makes a reasonable offer.

all parties have agreed with the action of the board to consent to the sale for a price of $0.01 for all outstanding shares.

This means they have agreed to sell at .01 if someone makes an offer for that price.

Pretty tricky PR to break up.