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Lumber Liquidators Reorganizes Company to Create More Efficient Structure

Lumber Liquidators (NYSE:  LL) announced that effective December 31, 2009, it has reorganized by creating a new holding company structure. The primary purpose of the reorganization was to create a more efficient corporate structure that provides flexibility, risk mitigation, enhanced compensation and benefit structuring, and other benefits. The business operations of the company and its subsidiaries will not change as a result of the reorganization.

As part of the holding company reorganization, a new parent company named Lumber Liquidators Holdings, Inc. was formed. Outstanding shares of the capital stock of the former parent company, which was named Lumber Liquidators, Inc., were automatically converted, on a share for share basis, into identical shares of common stock of the new holding company. Lumber Liquidators intends to mail instructions to stockholders regarding the process for exchanging their old stock certificates.

The certificate of incorporation, the bylaws, the executive officers and the board of directors of the new holding company are the same as those of the former Lumber Liquidators, Inc. in effect immediately prior to the reorganization. The common stock of the new holding company will continue to be listed on the New York Stock Exchange under the symbol "LL." The rights, privileges and interests of the company's stockholders will remain the same with respect to the new holding company.

Source: http://www.lumberliquidators.com/

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