Charming Shoppes Inc. Presents at 25th Annual Card Forum and Expo, Apr-09-2013 09:15 AM. Venue: Boca Raton Resort & Club, Boca Raton, Florida, United States. Speakers: Kirk Simme, SVP - Treasurer, Credit and Corporate Finance.

David Jaffe, President and CEO of Ascena Retail Group Inc., said the company is putting Figi's Mail Order Gifts, Inc. up for sale. Jaffe hinted the sale in May 2012 that he referred as "a different type of business than our other brands." "Figi's is a terrific business. ... We see it continuing to be very profitable. What we don't see is a strategic fit with Ascena Retail Group," Jaffe said. Ascena will continue to support Figi's financially until it's sold, Jaffe said. "While we announced our intention to divest it, there is no rush, there is no timeline. We're not going to starve the business, rather we are going to support its continued growth," Jaffe said. In its news release, Ascena said it can't give "assurance as to whether any such transaction will be consummated" and isn't obligated to make any further announcements regarding a deal. Figi's remains a growing, profitable business, said Jim Krueger, Figi's president. He said Ascena's decision is strictly business and is no reflection on Figi's. "It's a positive thing for Figi's," Krueger said. Figi is a part of Charming Shoppes Inc.

In connection with the consummation of the Merger, each of the following members of the Charming Shoppes Inc.'s Board of Directors resigned from the Board of Directors of the company, effective immediately prior to the Effective Time: Arnaud Ajdler, Michael C. Appel, Richard W. Bennet, III, Michael J. Blitzer, Michael Goldstein, Katherine M. Hudson, Bruce J. Klatsky, Paula A. Price, Anthony M. Romano and Alan Rosskamm. These resignations were not a result of any disagreements between the Company and the current directors on any matter relating to the Company's operations, policies or practices. In connection with the consummation of the Merger, at the Effective Time, (i) the articles of incorporation of the Purchaser as in effect immediately prior to the Merger became the articles of incorporation of the Company following the Merger, except that the articles of incorporation were amended to state the name of the Company as Charming Shoppes Inc. and provide that the common stock of the Company will have a par value of $0.01 per share, and (ii) the by-laws of the Purchaser as in effect immediately prior to the Merger became the by-laws of the Company following the Merger. The changes to the Company's articles of incorporation and by-laws relate to and are consistent with the Company becoming a wholly owned subsidiary of the Parent and its ceasing to be a public reporting company.