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September 6, 2012
08:37 EDTWGAWells-Gardner has received purchase orders for over $20M of VGTS
Wells-Gardner Electronics announced that its wholly owned subsidiary American Gaming & Electronics, or AG&E, has now received signed purchase orders for VGT units to be installed in Illinois valued at approximately $21M. The initial test sites are scheduled to take place around the middle of September. The company is expecting these units to be shipped in Q4 of 2012 and Q1 of 2013, depending on the speed of jurisdictional approvals of bars and other liquor establishments in the state.
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November 20, 2015
17:07 EDTWGAAG&E Holdings announces resignation of CFO Renee Zimmerman
CFO Renee Zimmerman has announced her resignation from the company effective December 8. Jim Brace, former CFO of the company and current special consultant, will lead the search for an executive to serve in the role of controller, which the company expects to complete promptly.
17:05 EDTWGAAG&E Holdings provides strategic review update
The board of AG&E Holdings provided an update to the ongoing Strategic Review process.The board continues to solicit and evaluate proposed strategic alternatives for the company. The board has formed a Special Committee consisting of directors Michael Levin, Merle Banta and Frank Martin. The Special Committee continues to work with Innovation Capital and outside counsel to evaluate and negotiate proposals. The Special Committee has a broad mandate, including reviewing all proposals, with the ability to accept, reject and/or solicit other parties to submit proposals for a transaction that maximizes the value of the company for shareholders. The Special Committee has received a number of proposals. Anthony Spier, CEO of the company, has submitted a proposal to acquire all of the stock of the company's subsidiary, American Gaming & Electronics. As part of this process, the Special Committee has placed Spier on a temporary, indefinite leave of absence as CEO. Spier remains an employee of the company and continues to serve on the board. There can be no assurance if and when the company will be able to reach agreement with any party, the terms and conditions of any such an agreement, or that any transaction will be consummated.

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