Last $19.80 USD
Change Today 0.00 / 0.00%
Volume 0.0
MMTRS On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 08/26/14 All times are local (Market data is delayed by at least 15 minutes).

mills music trust (MMTRS) Snapshot

Open
$19.80
Previous Close
$19.80
Day High
$19.80
Day Low
$19.80
52 Week High
12/12/13 - $27.00
52 Week Low
08/26/14 - $19.80
Market Cap
5.5M
Average Volume 10 Days
150.0
EPS TTM
--
Shares Outstanding
277.7K
EX-Date
03/28/14
P/E TM
--
Dividend
$9.16
Dividend Yield
11.57%
Current Stock Chart for MILLS MUSIC TRUST (MMTRS)

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mills music trust (MMTRS) Details

Mills Music Trust holds the rights to receive payment of a deferred contingent purchase price obligation relating to music and lyric copyright catalogue payable by EMI Mills Music Inc. EMI Mills Music Inc. operates as an owner and administrative entity for the copyrighted materials. The payments of the contingent portion are based on royalty income generated by the catalogue and collected by EMI Mills Music Inc. Mills Music Trust was founded in 1964 and is based in New York, New York.

Founded in 1964

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mills music trust (MMTRS) Key Developments

Mills Music Trust announced delayed annual 10-K filing

On 04/01/2014, Mills Music Trust announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Mills Music Trust, EMI Mills Music Inc. and EMI Consortium Music Publishing Inc. to Settle All Disputed Claims

On February 28, 2014, Mills Music Trust, EMI Mills Music Inc. and EMI Consortium Music Publishing Inc. agreed to settle all disputed claims of the Trust and EMI for all periods of time prior to October 1, 2011 relating to EMI Mills Music's obligation to make ongoing payments to the Trust of a deferred contingent purchase price obligation under the Asset Purchase Agreement, dated December 5, 1964. The settlement does not cover any periods of time after the Settlement Period. In connection with the Settled Claims, the Trust had previously filed a Summons with Notice with the Supreme Court of the State of New York seeking damages of not less than $2,614,948 from EMI for breach of contract, among other claims. Under the terms of the settlement, EMI agreed to make payment to the Trust in the amount of $625,000 within ten business days of February 28, 2014 in full and final settlement of the Settled Claims and the Trust agreed to withdraw the Summons With Notice or dismiss the Summons with Notice without prejudice and without cost in accordance with the terms of the settlement.

Mills Music Trust Announces Appointment of Trustees

Mills Music Trust held a meeting of the registered owners of Trust Certificates representing interests in the Trust. At the meeting, each of Lee Eastman and Michael E. Reiss was elected as an individual Trustee by Unit Holders holding a majority of the Trust Units outstanding as of the record date of the meeting. Each of Mr. Eastman and Mr. Reiss has accepted his appointment as an individual Trustee in accordance with the Declaration of Trust. Lee Eastman is a partner at Eastman & Eastman. Mr. Eastman currently serves on the board of the National Music Publishers' Association and as executive vice-president on the board of Literacy Partners Inc. From 2006 until present, Mr. Reiss has been a Member of Buttonwood Tree Management, LLC and a general partner of Buttonwood Tree Value Partners, LLC. From 2010 until present, Mr. Reiss has served as Trustee for the Peggy J. Wilson Declaration of Trust and the Peggy J. Wilson Irrevocable Life Insurance Trust.

 

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