Alico, Inc. Announces Expected Dissolution of Its Largest Shareholder, 734 Investors
November 13 2019 - 8:15AM
Alico, Inc. (“Alico” or the “Company”) (Nasdaq: “ALCO”) today
announced that 734 Investors, LLC (“734 Investors”), the Company’s
largest shareholder, has distributed the 3,173,405 shares of
Company common stock held by it, on a pro rata basis, to its
members. This share distribution comes in anticipation of the
dissolution of 734 Investors later this year. Transfers of these
shares are not registered on any current Alico registration
statement, but the shares are potentially transferable pursuant to
Rule 144, subject to certain customary restriction.
John Kiernan, Alico’s President and Chief
Executive Officer, said, “734 Investors was created for a 6-year
period of time, which is expiring. After this distribution,
the individual members of 734 Investors will now directly own their
same underlying ownership stake in Alico. We have been
grateful for their support since 2013, and look forward to their
continued investment in our Company.”
About Alico
Alico, Inc. primarily operates two divisions:
Alico Citrus, one of the nation’s largest citrus producers, and
Alico Water Resources and Other Operations, a leading water storage
and environmental services division. Learn more about Alico
(Nasdaq: “ALCO”) at www.alicoinc.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements are based on
Alico’s current expectations about future events and can be
identified by terms such as "plans," "expect," "may," "anticipate,"
"intend," "should be," "will be," "is likely to," "believes," and
similar expressions referring to future periods.
Alico believes the expectations reflected in the
forward-looking statements are reasonable but cannot guarantee
future results, level of activity, performance or achievements.
Actual results may differ materially from those expressed or
implied in the forward-looking statements. Therefore, Alico
cautions you against relying on any of these forward-looking
statements. Factors which may cause future outcomes to differ
materially from those foreseen in forward-looking statements
include, but are not limited to: changes in laws, regulation and
rules; changes in the political environment and agendas; weather
conditions that affect production, transportation, storage, demand,
import and export of fresh product and its by-products; increased
pressure from diseases including citrus greening and citrus canker,
as well as insects and other pests; disruption of water supplies or
changes in water allocations; pricing and supply of raw materials
and products; market responses to industry volume pressures;
pricing and supply of energy; changes in interest rates;
availability of financing for land development activities and other
growth and corporate opportunities; onetime events; acquisitions
and divestitures; seasonality; our ability to achieve the
anticipated cost savings under the Alico 2.0 Modernization Program;
customer concentration; labor disruptions; inability to pay debt
obligations; inability to engage in certain transactions due to
restrictive covenants in debt instruments; government restrictions
on land use; changes in agricultural land values; and market and
pricing risks due to concentrated ownership of stock. Other risks
and uncertainties include those that are described in Alico’s SEC
filings, which are available on the SEC’s website at
http://www.sec.gov. Alico undertakes no obligation to subsequently
update or revise the forward-looking statements made in this press
release, except as required by law.
Investor Contact:
Richard RalloSenior Vice President and Chief Financial
Officer(646) 374-4778rrallo@alicoinc.com
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