SOURCE: The Alpine Group, Inc.

September 17, 2014 11:32 ET

The Alpine Group, Inc. Announces Liquidation Distribution of $.40 per Share

EAST RUTHERFORD, NJ--(Marketwired - Sep 17, 2014) - The Alpine Group, Inc. (PINKSHEETS: APNI) announced today that its Board of Directors had approved a distribution to shareholders of $.40 per share pursuant to the Company's Plan of Liquidation adopted last year. The liquidation distribution is anticipated to be made on or about October 15, 2014 to shareholders of record on October 9, 2014. On April 30, 2014, the Company made an initial liquidation distribution of $.25 per share and based on current information the Company stated that it anticipates further cash distributions in 2015. Its remaining non-cash investment is in the form of equity and debt issued by Synergy Cables, Ltd. Due to the adverse financial results and outlook for that entity, the distributable value of the Company's interests in Synergy is highly doubtful both as to value, form of distribution, if any, and timing.

Shareholders should consult their professional tax advisors as to the appropriate income tax treatment of their distributions.

This release has been posted to Alpine's website (

All statements in this press release other than statements of historical fact are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in this press release. The forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligations to release publicly any update or revision to any forward-looking statement contained herein if there are any changes in conditions or circumstances on which any such forward-looking statement is based.