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Dice Announces Confirmation of Reorganization Plan to Eliminate $69.4 Million of Debt; Company to Emerge as Privately Held Entity.

Publication: PR Newswire
Publication Date: 24-JUN-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Dice Inc. (BULLETIN BOARD: DICEQ) today announced that the U.S. Bankruptcy Court for the Southern District of New York has confirmed its pre-arranged Joint Plan of Reorganization (the "Plan") proposed by the Company and by Elliott Associates, L.P. and Elliott International, L.P. (together, "Elliott"), which hold approximately 48% of the Company's Convertible Subordinated Notes (the "Notes").

The Plan received overwhelming approval by shareholders and bondholders, with both classes entitled to vote having done so by substantially more than the margins required for acceptance by each class. According to the final count of ballots received by the voting deadline, 98.7% of the shares that were voted were in favor of the Plan. Holders of 92% of the principal amount of the Notes voted; 100% of those Notes were voted in favor of the Plan. No objections to confirmation of the Plan were received. The Company is targeting June 30, 2003 as the Effective Date for emergence from Chapter 11.

"We have continued to deliver the highest quality service to our customers during the...



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