Adams Golf Announces Decision to Explore Strategic Alternatives
04 Janeiro 2012 - 9:30PM
Adams Golf, Inc. (Nasdaq:ADGF) ("Adams Golf" or the "Company")
today announced that its Board of Directors has unanimously decided
to explore and evaluate strategic alternatives to enhance
shareholder value. The Board of Directors intends to consider the
full range of available options. The Company has engaged
Morgan Stanley & Co. to assist in the evaluation of these
alternatives.
The Company has not made a decision to pursue any specific
strategic alternative at this time, and the exploration of
strategic alternatives may not result in any specific action or
transaction. There is no definitive timetable for the process.
The Company does not intend to provide updates or make any further
comment regarding the evaluation of strategic alternatives unless a
specific action is approved by the Board of Directors or the
process is concluded.
"We are pleased to be working with Morgan Stanley on this
initiative," stated Chip Brewer, CEO and President of Adams
Golf. "They bring strong market insight and a wealth of
experience in these matters. As we continue to strengthen the
Adams Golf brand, the entire board thinks the current market
valuation is inconsistent with the company's performance and future
prospects."
About Adams Golf
Developing high-performance and technologically innovative golf
products is the cornerstone of Adams Golf. From initial design,
through manufacturing and servicing, Adams Golf is committed to
helping golfers of all abilities enjoy the game of golf. For more
information on Adams Golf, please visit www.adamsgolf.com or review
our reports on file with the Securities and Exchange
Commission.
The Adams Golf logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5031
Forward-Looking Statements
This press release contains "forward-looking statements" made
under the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. The statements may be identified by
terminology such as "may," "would," "expect," "intend," "estimate,"
"anticipate," "plan," "seek," "inevitably," "appears," or
"believe." Such statements reflect the current view of Adams Golf
with respect to future events and are subject to certain risks,
uncertainties and assumptions related to certain factors including,
without limitation, the uncertainties related to any strategic
alternative being identified or consummated, general economic
conditions, changes in consumer demand for golf products,
unforeseen events affecting the golf industry and other factors
detailed under "Risk Factors" in our most recent Form 10-K and
subsequent Form 10-Qs on file with Securities and Exchange
Commission. These filings can be obtained by contacting Adams Golf
Investor Relations.
Although Adams Golf believes that the expectations reflected in
such forward-looking statements are reasonable, it can give no
assurance that such expectations will prove to be correct. Based
upon changing conditions, should any one or more of these risks or
uncertainties materialize, or should any underlying assumptions
prove incorrect, actual results may vary materially from those
described herein. Except as required by federal securities laws,
Adams Golf undertakes no obligation to publicly update or revise
any written or oral forward-looking statements, whether as a result
of new information, future events, changed circumstances or any
other reason after the date of this press release. All subsequent
written and oral forward-looking statements attributable to Adams
Golf or persons acting on its behalf are expressly qualified in
their entirety by the applicable cautionary statements.
CONTACT: Pamela High
Chief Financial Officer
Adams Golf
(972) 673-9000
InvestorInfo@adamsgolf.com
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