Company to Pursue Sale Process
Charlotte Russe Holding, Inc. (Nasdaq: CHIC) today announced that its
Board of Directors has instructed its financial advisor, Cowen and
Company, LLC, to initiate a sale process as part of the Company’s
previously announced review of strategic alternatives.
The Company has received preliminary expressions of interest in
acquiring the Company from both financial and strategic buyers. The sale
process will enable the Company to obtain formal indications of interest
from potential buyers. There can be no assurance, however, that a
transaction will result.
The Company continues to implement a new strategic plan designed to
increase long-term growth and profitability. As previously announced,
the Company will announce its 2009 second quarter results on April 21,
2009.
IMPORTANT INFORMATION
Charlotte Russe Holding, Inc. filed a preliminary proxy statement with
the U.S. Securities and Exchange Commission on March 9, 2009 relating to
Charlotte Russe's solicitation of proxies from the stockholders of
Charlotte Russe with respect to the Charlotte Russe 2009 annual meeting
of stockholders. Charlotte Russe and its directors and certain of its
officers and other employees may be deemed to be participants in the
solicitation of proxies for the 2009 annual meeting. The preliminary
proxy statement contains detailed information regarding the names,
affiliation and interests of individuals who may be deemed participants
in the solicitation of proxies of Charlotte Russe's stockholders.
Charlotte Russe will also be filing a definitive proxy statement and
other relevant documents, including a white proxy card. CHARLOTTE RUSSE
ADVISES SECURITY HOLDERS TO READ THE DEFINITIVE PROXY STATEMENT AND ANY
OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Charlotte
Russe's proxy statement and other relevant documents may be obtained
without charge from the SEC's website at www.sec.gov
and from Charlotte Russe at www.charlotterusse.com.
You may also obtain a free copy of Charlotte Russe’s definitive proxy
statement, when it becomes available, by writing to the Corporate
Secretary at 4645 Morena Boulevard, San Diego, California 92117.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995: Except for the historical information contained herein,
this press release contains forward-looking statements. Such statements
include, but are not limited to, the results of our process for
evaluating strategic alternatives for the Company.
