ALJ Regional Holdings, Inc.
NEW YORK, May 1, 2017 /PRNewswire/ -- ALJ Regional Holdings, Inc. (NASDAQ: ALJJ) ("ALJ") confirmed today that Jess Ravich, Executive Chairman and Chairman of the Board of ALJ, terminated the previously adopted pre-arranged stock trading plan, dated September 13, 2016 (the "10b5-1 Plan"), established in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934 and ALJ's policies regarding stock transactions. The 10b5-1 Plan was adopted on behalf of the Exemption Trust under the Ravich Revocable Trust of 1989 (the "Trust"), for which Mr. Ravich served as trustee and whose beneficiaries are Mr. Ravich's heirs. No shares were sold under the 10b5-1 Plan to which Mr. Ravich was the beneficiary.
The Trust sold 429,947 shares of ALJ common stock under the 10b5-1 Plan. As of April 17, 2017, Mr. Ravich and his affiliates (including the Trust) held 13,861,236 shares of ALJ common stock, which represented in total approximately 38.6% of ALJ's outstanding capital stock.
About ALJ Regional Holdings, Inc.
ALJ Regional Holdings, Inc. is the parent company of Faneuil, Inc., a leading provider of outsourcing and co-sourced services to both commercial and government entities in the healthcare, utility, toll and transportation industries; Floors-N-More, LLC, dba Carpets N' More, one of the largest floor covering retailers in Las Vegas and a provider of multiple finishing products for commercial, retail and home builder markets including all types of flooring, countertops, cabinets, window coverings and garage/closet organizers, with five retail locations; and Phoenix Color Corp., a leading manufacturer of book components, educational materials and related products producing value-added components, heavily illustrated books and specialty commercial products using a broad spectrum of materials and decorative technologies.
This press release contains forward-looking statements. Such statements include information regarding our expectations, goals or intentions regarding the future, including but not limited to statements about stock trading plans established under Rule 10b5-1 of the Securities and Exchange Act, and other statements including the words "believe," "anticipate," "intend," "expect," "will" and similar expressions. You should not place undue reliance on these statements, as they involve certain risks and uncertainties, and actual results or performance may differ materially from those discussed in any such statement. Factors that could cause actual results to differ materially are discussed in our Form 10-Q filed with the U.S. Securities and Exchange Commission and available through EDGAR on the SEC's website at www.sec.gov . All forward-looking statements in this release are made as of the date hereof and we assume no obligation to update any forward-looking statement.
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SOURCE ALJ Regional Holdings, Inc.