Spectrum Group (SPGZ) released a Proxy (2/7/14) that it will hold a Special Meeting (TBD) and shareholders will vote on a spinoff of its A-Mark Precious Metals business, and if successful, it will execute a going private transaction (1-for-1,000 reverse stock split). The company originally announced its intention to spinoff A-Mark on 12/13/14.
A-Mark Precious Metals, Inc full-service precious metal trading company, and an official distributor for a number of government mints. A-Mark products include gold, silver, platinum and palladium for storage and delivery in the form of coins, bars, wafers and grain, and our services include financing, leasing, consignment, hedging and various customized financial programs.
Spectrum Group will maintain its collectibles business, which operates as an integrated network of companies concentrating on numismatic (coins) and rare and fine vintage wine.
Source: Proxy, Press Release
