Myrexis, Inc. (MYRX)

[naturalborninvestor]

thought companies are prohibited to distribute in excess of retained earnings

The Board of Directors has declared a special cash distribution to shareholders in the amount of $2.86 per share. The special cash distribution will be paid to shareholders of record at the close of business on Monday, February 4, 2013, the record date, as soon as practicable after such date. The Board has also appointed Jonathan M. Couchman as a Class II director of the Company and as its President and Chief Executive Officer, and the remaining members of the Board have resigned. The Company, under the leadership of Mr. Couchman, will continue its evaluation of strategic alternatives.

"After a lengthy review and evaluation of potential alternatives to the Company's liquidation and dissolution, including consideration of advice provided by the Company's financial advisor, Stifel Nicolaus Weisel, the Board of Directors reached the conclusion that it is in the best interests of the shareholders to terminate further consideration of dissolution, appoint Jonathan M. Couchman as Director, President and Chief Executive Officer of the Company, and distribute $2.86 per share to the shareholders. Mr. Couchman has an established track record in creating value for shareholders, and he will endeavor to identify and cause the company to acquire one or more revenue or income producing assets," stated Gerald P. Belle, Chairman of the Board of Directors. "We believe that these arrangements will maximize value to our shareholders by providing an immediate substantial cash distribution to shareholders, while preserving and enhancing the opportunity to derive additional value in the future."

How does distributing the company's asset base enhances "the opportunity to derive additional value in the future"?