Business
The Middleton Doll Company Sets Annual Meeting and Announces Name Change and Stock Recapitalization Plan
The Middleton Doll Company Sets Annual Meeting and Announces Name Change and Stock Recapitalization Plan.
About this update from Firstime Design Ltd.
[{"type":"text","content":"The Middleton Doll Company Sets Annual Meeting and Announces Name Change and Stock Recapitalization PlanWaukesha, Wis., November 24, 2010…The Board of Directors of The Middleton Doll Company (Pink Quotes: MDLL and MDLLP) has set December 22, 2010 as the date for the 2010 annual meeting of shareholders. The meeting will be held at 10:00 a.m. (local time). Three proposals will be voted on by the shareholders, they are: 1) election of directors, 2) to change the name of the Company to “FirsTime Design Limited” and 3) a stock recapitalization plan. Shareholders of record at the close of business on November 17, 2010, are the shareholders entitled to vote at the meeting and any adjournments or postponements thereof.The stock recapitalization plan is intended to simplify the capital structure of the company by converting the preferred stock into common stock, while giving common and preferred shareholders the opportunity to elect to continue as shareholders of the company or to accept an opt-out cash payment in exchange for their shares. The opt-out cash payment is $0.20 per common share and $7.592 per preferred share. The stock recapitalization plan, the plan’s advantages and disadvantages, the risks related to the plan, and the impact on the company of the adoption of the plan or failure to adopt the plan are all more fully described in the proxy statement/prospectus for the annual meeting, which will be made available through our website at http://www.themiddletondollcompany.com.About The Middleton Doll Company The Middleton Doll Company, through its subsidiary License Products, Inc., does business as FirsTime Manufactory, a designer and marketer of clocks and home décor products that are sold to major national retailers. Additional InformationNothing in this press release shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful prior to registration under the applicable securities laws. In soliciting shareholder approval of the proposals, the directors and officers of the company may be deemed to be participants in the solicitation. Shareholders should read the prospectus/proxy statement because it will contain important information, including a ...