FORT LAUDERDALE, Fla., Feb. 09, 2023 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, declared a special cash dividend of $4.68 per share. The dividend is anticipated to be paid on February 28, 2023 to all stockholders of record as of February 13, 2023.
In addition, the Company's subsidiaries entered into definitive agreements to sell its Subaru and Kia dealerships in Beckley, West Virginia.
"The Board and the management team all believe that, given the nature of our portfolio, pursuing multiple transactions with different potential buyers for assets or groups of assets presents the best opportunity to maximize stockholder value including proceeds to be distributed to stockholders," said Sam Tawfik, Chief Executive Officer and Chairman. Accordingly, the Company intends to declare additional dividends and/or distributions in the future.
ABOUT LMP AUTOMOTIVE HOLDINGS, INC.
LMP Automotive Holdings, Inc. offers a wide array of products and services fulfilling the entire vehicle ownership lifecycle, including new and used vehicles, finance and insurance products and automotive repair and maintenance.
Our proprietary e-commerce technology and strategy are designed to disrupt the industry by leveraging our experienced teams, growing selection of owned inventories and physical logistics network. We seek to provide customers with a seamless experience both online and in person. Our physical logistics network enables us to provide convenient free delivery points for customers and provide services throughout the entire ownership life cycle. We use digital technologies to lower our customer acquisition costs, achieve operational efficiencies and generate additional revenues. Our unique growth model generates significant cash flows, which funds our innovation and expansion into new geographical markets, along with strategically building out dealership networks, creating personal transportation solutions that consumers desire.
Investor Relations:
LMP Automotive Holdings, Inc.
500 East Broward Boulevard, Suite 1900
Fort Lauderdale, FL 33394
investors@lmpah.com
For more information visit:
lmpmotors.com
FORWARD-LOOKING STATEMENTS:
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar matters that are not historical facts. These statements may be preceded by, followed by or include the words "aim," "anticipate," "believe," "estimate," "expect," "forecast," "intend," "likely," "outlook," "plan," "potential," "project," "projection," "seek," "can," "could," "may," "should," "would," will," the negatives thereof and other words and terms of similar meanings. These forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company or any successor entity of the transaction and include statements concerning the expected timing of closing the transaction. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the Company is unable to enter into sales agreements with respect to the Terminated Dealerships in a timely manner or at all, or on favorable terms, (ii) the effect of the announcement or pendency of the Plan of Liquidation on the Company's business relationships, operating results and business generally, (iii) the inability of the Company to complete the Plan of Liquidation and distribute proceeds to stockholders. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
佛罗里达州劳德尔达尔堡,2023年2月9日(Global Newswire)--美国电子商务和设施类汽车零售商LMP汽车控股公司(LMP Automotive Holdings,Inc.)宣布派发特别现金股息每股4.68美元。红利预计将于2023年2月28日支付给截至2023年2月13日登记在册的所有股东。
此外,该公司的子公司达成了出售其在西弗吉尼亚州贝克利的斯巴鲁和起亚经销商的最终协议。
首席执行官兼董事长萨姆·陶菲克说:“董事会和管理团队都认为,鉴于我们投资组合的性质,与不同的潜在买家进行资产或资产组的多重交易是实现股东价值最大化的最佳机会,包括分配给股东的收益。”因此,该公司打算在未来宣布额外的股息和/或分配。
LMP汽车控股公司简介
LMP Automotive Holdings,Inc.提供广泛的产品和服务,满足整个车辆拥有生命周期,包括新车和二手车、金融和保险产品以及汽车维修和维护。
我们专有的电子商务技术和战略旨在通过利用我们经验丰富的团队、不断增加的自有库存选择和实物物流网络来颠覆行业。我们寻求为客户提供在线和面对面的无缝体验。我们的实体物流网络使我们能够为客户提供便捷的免费送货点,并在整个所有权生命周期中提供服务。我们使用数字技术来降低我们的客户获取成本,实现运营效率并产生额外的收入。我们独特的增长模式产生了可观的现金流,这为我们的创新和向新地理市场的扩张提供了资金,同时战略性地建立了经销商网络,创造了消费者渴望的个人交通解决方案。
投资者关系:
LMP汽车控股公司
东布罗沃德大道500号,1900套房
佛罗里达州劳德代尔堡,邮编:33394
邮箱:Investors@lmpah.com
有关更多信息,请访问:
Lmpmotors.com
前瞻性陈述:
本新闻稿可能包含1933年证券法第27A节和1934年证券交易法第21E节所指的“前瞻性陈述”,这两个章节都经过了修订。此类陈述包括但不限于与我们的预期、信念、预测、未来计划和战略、预期事件或趋势以及非历史事实的类似事项有关的任何陈述。这些陈述可以在这些陈述之前、之后或包括以下词语:“目标”、“预期”、“相信”、“估计”、“预期”、“预测”、“打算”、“可能”、“展望”、“计划”、“潜力”、“项目”、“预测”、“寻求”、“能”、“可能”、“可能”、“应该”、“将”、“将”“它的否定和其他类似含义的词语和术语。这些前瞻性陈述是基于公司目前对未来发展及其对公司或交易任何后续实体的潜在影响的预期和信念,包括有关交易预期完成时间的陈述。许多因素可能会导致未来的实际事件与本新闻稿中的前瞻性陈述大不相同,这些因素包括但不限于:(I)公司无法及时、完全或以有利条件就终止的经销商达成销售协议的风险;(Ii)清算计划的宣布或悬而未决对公司的业务关系、经营业绩和总体业务的影响;(Iii)公司无法完成清算计划并将收益分配给股东的风险。不能保证任何前瞻性陈述都会成为现实。告诫您不要过度依赖前瞻性陈述,这些陈述仅反映了截至目前的预期。除法律要求外,我们明确不承担任何义务或承诺公开发布对本文中包含的任何前瞻性陈述的任何更新或修订,以反映我们预期的任何变化或任何此类陈述所基于的事件、条件或情况的任何变化。