9278 Communications, Inc. Announces Merger Agreement with NTSE Holding Corp.Business/High Tech Editors NEW YORK--(BUSINESS WIRE)--Feb. 3, 2003 9278 Communications, Inc. ("NTSE NTSE National Talent Search Examination (India) NTSE Windows NT Server / Enterprise Edition (Microsoft) ") has announced today that it has entered into a Merger Agreement dated January 31, 2003 with NTSE Holding Corp. a corporation wholly owned by Sajid Kapadia, the Chairman, Chief Executive Officer and Principal Stockholder of 9278 Communications, which will result in 9278 Communications becoming a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation , owned by NTSE Holding Corp. Pursuant to this agreement, all of the outstanding shares of 9278 Communications will be cancelled and existing stockholders will receive a cash payment of $.10 per share. The transaction is subject to numerous conditions, including the approval by the stockholders of 9278 Communications. It is expected that a stockholders meeting to approve the transaction will be held in late April, and that the closing of the transaction will occur immediately thereafter. Haris Syed, President of 9278 Communications and a director of the company, said "The Board believes that this transaction presents the only realistic manner for our stockholders to achieve liquidity in our common stock, given the difficult times facing the telecommunications industry and the financial markets in general. With the offer of NTSE Holding Corp. being at a price being several times the prevailing and recent historical market prices, and given the minimal trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. in our common stock, the board will be recommending that stockholders approve the merger." 9278 Communications Inc. is a value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. marketer of telecom products, services, and e-commerce technology. For the past six years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time company has specialized in the distribution of pre-paid telecom products and services, including a recent launch of prepaid wireless. The 9278 network includes over 2,000+ distributors that service products to over 150,000 retail locations throughout the world. 9278 Communications has grown to become one of the world's leading manufacturers and distributors of prepaid phone cards, receiving acclaim from prestigious sources like Crain's, CNN CNN or Cable News Network Subsidiary company of Turner Broadcasting Systems. It was created by Ted Turner in 1980 to present 24-hour live news broadcasts, using satellites to transmit reports from news bureaus around the world. and The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times. The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings. For more information on 9278 Communications and its activities, please contact: Reade White 9278 Communications Director of Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most 1942 Williamsbridge Rd. Bronx NY 10461 Reade@9278.com |
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