$21 Million Acquisition Signed.GENEVA, Switzerland--(BUSINESS WIRE)--Oct. 20, 1997--Haas Neuveux & Co. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:HANX) announced Monday the company has signed a purchase contract to acquire "Polo Club de Geneve" and the associated Real Estate renovated property. The purchase price is 30 million Swiss Francs Noun 1. Swiss franc - the basic unit of money in Switzerland franc - the basic monetary unit in many countries; equal to 100 centimes centime - a fractional monetary unit of several countries: France and Algeria and Belgium and Burkina Faso and Burundi and ($21 million U.S.). Under the terms of the contract the company has assumed 20 million Swiss Francs in mortgages and is paying the remaining costs, approximately 10 million Swiss Francs, with a combination of cash and the issuance of 1 million restricted shares of the company's common stock. The Polo Club de Geneve is housed in an 18th century mansion with related outbuildings, office facilities and guest accommodations. Polo facilities include a stick and ball practice area, barns and paddock paddock a fenced field or enclosure. joining paddock used for mating. areas. Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Michael Harrop, stated, "This acquisition will provide our worldwide Puntapolo Polo Club members, guests and shareholders a conveniently located polo club and social gathering place with guest accommodations in the heart of Europe's historic financial center, Geneva, Switzerland." Haas Neuveux & Co. will relocate its corporate offices to the new facility during the upcoming quarter. CONTACT: International Buying Power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. Corp. 561/482-0004/Fax 561/488-2602 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion