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Movie Star announces filing of preliminary proxy statement with SEC

12
Jun '07
Movie Star Inc announced that it has filed a preliminary proxy statement with the Securities and Exchange Commission (“SEC”) for a special meeting of shareholders to be held to consider, among other things, a proposal to approve the issuance of shares of Movie Star common stock in connection with the transactions contemplated by the previously announced definitive merger agreement that provides for the merger of a wholly-owned subsidiary of Movie Star into FOH Holdings Inc (“FOH Holdings”), the parent company of Frederick's of Hollywood, Inc.

As a result of the merger, FOH Holdings will become a wholly-owned subsidiary of Movie Star. Pursuant to the merger agreement, FOH Holdings' stockholders will receive approximately 23.7 million shares of newly issued Movie Star common stock in the merger, or 60% of the combined company without giving effect to the rights offering described below.

Once the preliminary proxy statement is cleared by the SEC, Movie Star will mail a definitive proxy statement to its shareholders of record as of a future date to be determined.

The date of the special meeting of shareholders and the record date for the meeting will be specified in the definitive proxy statement. For shareholders' general information, the preliminary proxy statement is available on the SEC's Movie Star's website.

Movie Star also announced that it has filed a registration statement with the SEC covering shares of Movie Star common stock to be issued upon the exercise of non-transferable subscription rights.


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