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» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » ACKH Gets more then 20 mil in settlements (Page 1)

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Author Topic: ACKH Gets more then 20 mil in settlements
beststocks
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Extremely cheap!! Armstrong Holdings, Inc. and Armstrong World Industries, Inc. Announce Settlement
LANCASTER, Pa., Feb. 26 /PRNewswire-FirstCall/ -- Armstrong Holdings, Inc. ('AHI,' OTC Bulletin Board: ACKH.OB) and its former subsidiary, Armstrong World Industries, Inc. (NYSE: AWI), have reached a settlement on all inter- company claim and tax issues.

Assuming the settlement is approved by the court as discussed below, the settlement calls for AWI to pay AHI $20 million in cash, and gives AHI an allowed claim under AWI's confirmed Plan of Reorganization of $8.5 million (the AHI Claim). The settlement gives AWI the right to make all relevant tax elections and file all required tax returns on behalf of the Armstrong group of companies for all relevant tax periods during which the two companies were affiliated, and to receive and retain all related tax refunds. AHI would recover on the AHI Claim on the same basis as other unsecured creditors of AWI under the AWI Plan of Reorganization. The initial distribution in satisfaction of the $8.5 million AHI Claim would consist of approximately $2 million in cash plus approximately 98,690 shares of reorganized AWI.

The settlement is being submitted for approval by the U.S. Bankruptcy Court in Wilmington, Del., that presided over AWI's Chapter 11 case. Shareholders of AHI will be mailed a notice of the hearing, which is scheduled for April 2, 2007.

Contacts:
Investors: Beth Riley, bariley*armstrong.com, 717.396.6354
Media: Meg Graham, magraham*armstrong.com, 866.321.6677

Forward-Looking Statement
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements provide expectations or forecasts of future events. Results could differ materially due to known and unknown risks and uncertainties including whether the court approves or changes the settlement, and other factors disclosed in recent reports on Forms 10-K, 10-Q and 8-K filed with the SEC. We undertake no obligation to update any forward-looking statement.

SOURCE Armstrong Holdings, Inc.; Armstrong World Industries, Inc.

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beststocks
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$5 soon.I had FMXI from 0.10 to $4.50
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beststocks
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This stock was $35 in 2000 !!!!!!!!!!!!!
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beststocks
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after our bid 0.41
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beststocks
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Watch ACKH today.$1.00 or more.
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Abe Smith
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anyone else besides beststocks in on this?
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a surfer
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I am watching L2's.. up to .41-.42
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Abe Smith
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42/42
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a surfer
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uhhhhh......56x.57
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djg7
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Wow! .565 x .57 up 86% premarket. This is huge!
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scene
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WOW! up almost 100% premarket!
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Abe Smith
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just tell me where to buy at [Wink]
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Abe Smith
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LET ME INNNNN!!!!
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Abe Smith
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k im in lol
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Fuzzy1018
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im in aswell; real hard to get a fill
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Fuzzy1018
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.54/.55
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Fuzzy1018
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$20 million in cash - now thats huge
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Abe Smith
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probably see $1 today....im hoping anyway [Wink]
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Fuzzy1018
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very possible
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Fuzzy1018
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just wait till every1 reads the news
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Fuzzy1018
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there it goes .55/.56 now
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Fuzzy1018
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.55/.57
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Fuzzy1018
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.56/.565, this will go up big today imo
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Fuzzy1018
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is anyone else in this one?
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Homersbud
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I'm in at .54!
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Fuzzy1018
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i'm in at .54 aswell; they won't be able to hold it down for too long imo. walking it down on buys
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Abe Smith
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im in =)
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Abe Smith
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volume already over a full moving day in 6 months
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Fuzzy1018
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yea, big buys coming in.
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Fuzzy1018
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i'm surprised we are not moving up with all this buying pressure. will go soon imo
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Fuzzy1018
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.52/.53 now
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Fuzzy1018
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.51/.52
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Fuzzy1018
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WTF
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Fuzzy1018
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movin' up now
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Fuzzy1018
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i picked up 10,000 more at .55 above the ask. it still took about 7mnts to get filled. looking forward to an eod rally here
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