Form 8-K/A for CERES, INC.
Costs Associated with Exit or Disposal Activities
The Company expects to save up to approximately $6.0 and $8.0 million in cash in fiscal 2016 as a result of restructuring its operations as described above. The restructuring of the Company’s Brazilian seed operations is expected to be substantially completed by December 31, 2015.
After full implementation of the restructuring plan, the Company’s Brazilian operations will be focused on sugarcane trait development activities for the Brazilian sugarcane market.
Forward Looking Statements
This Item 2.05 contains “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, including statements regarding the Company’s efforts to develop and commercialize its products and technologies, anticipated yields and product performance, status of crop plantings, short-term and long-term business strategies, market and industry expectations, future operating metrics, and future results of operations and financial position, including anticipated cost savings from the company’s realignment plan and projected cash expenditures, are forward-looking statements. Such forward-looking statements represent the Company’s current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, events or developments to be materially different from those indicated by such forward-looking statements, including, but not limited to, those discussed in Exhibit 99.1 of the Company’s Current Report on Form 8-K, as filed with the Securities and Exchange Commission on July 27, 2015. The Company undertakes no obligation to update publicly, except to the extent required by law, any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this Form 8-K.
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided “as is” for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.