You may remember Springdale-based Hannover House and its 2009 capital infusion by Target Development Group, a penny stock traded.
The company is in the film, book and DVD distribution business and has titles such as “Twelve,” a forthcoming movie staring Curtis ‘50 Cent’ Jackson directed by Joel Schumacher.
In June the company said it is considering a “corporate opportunity that would move certain assets and divisions of Hannover House to a separate, fully-reporting Bulletin Board entity in consideration of a premium stock issuance for existing shareholders.”
No word on that action yet, but in a follow-up announcement, Hannover House CEO Eric Parkinson said:
“To be clear, the Target board of directors is not considering a corporate merger or a closure of TDGI. The board is evaluating opportunities that would be expected to generate a premium benefit for shareholders. One of the ventures presently under consideration is a partial asset sale of some aspects of the Hannover House division to a fully-reporting Bulletin Board entity that currently meets the shareholder requirements for an expeditious upgrade to the American Stock Exchange.”
As you might expect, TDGI’s stock has fluctuated quite a bit with a 25-week high of 6 cents and a low of just more than 1 cent.
The price was a mid-range on July 22, sitting at 3.7 cents per share.