Group TECHNICAL OLYMPIC management informs the investment community that NYSE listed US affiliate TOUSA Inc. announced, that retained KROLL ZOLFO COOPER LLC, a leading financial advisory and interim management firm, to assist TOUSA's management in developing a long-term business plan and assist TOUSA in evaluating its restructuring options.
TOUSA faces many challenges and is considering all available restructuring and reorganization alternatives. By retaining KROLL ZOLFO COOPER, TOUSA is enlisting additional expertise to join its management team and other advisors in examining its assets and capital structure for a longer-term solution to enhance TOUSA value for its stakeholders.
More information is available at the website of the US Securities and Exchange Commission, www.sec.gov, at the 8-K Form, 10-Κ Form και 10-Q Form as well as at the website of the subsidiary company, www.tousa.com.
This press release contains forward-looking statements. TOUSA wishes to caution readers that certain important factors may have affected and could in the future affect the Company's actual results and could cause the Company's actual results for subsequent periods to differ materially from those expressed in any forward looking statement made by or on behalf of the Company.