Royal Precision, Inc. and Royal Associates, Inc., a privately-held holding company, jointly announced that the stockholders of Royal Precision holding more than a majority of the issued and outstanding shares, by action in writing, had approved the Agreement and Plan of Merger, and pursuant to the Merger Agreement, RA Merger Sub, Inc, a wholly-owned subsidiary of RA, was merged with and into Royal Precision.
Royal Precision has filed a certification and request with the Securities and Exchange Commission for termination of its public reporting obligations and of its registration under the Securities Exchange Act.
As previously disclosed, as a result of the Merger, Royal Precision has become a wholly-owned subsidiary of RA. An investor group that includes Christopher A. Johnston, the Chairman of Royal Precision, John C. Lauchnor, the President, Chief Executive Officer and a director of Royal Precision, the remaining directors of Royal Precision, and certain other third parties are the owners of RA. All Royal Precision stockholders, other than the members of the investor group and those who properly pursue dissenters rights of appraisal of their Royal Precision shares, are entitled to receive $.10 for each Royal Precision share held.
