AM International Inc. announces new AM Multigraphics president and nonbinding letter of intent to sell shares of its Japanese subsidiary.ROSEMONT, Ill.--(BUSINESS WIRE)--Aug. 12, 1996--AM International Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AM) Monday announced that its board of directors has appointed Thomas D Thomas D. (born Thomas Dürr, December 30 1968 in Ditzingen close to Stuttgart, Germany) is a rapper in the German hip hop group Die Fantastischen Vier. He frequently works on solo projects. Life After finishing Realschule he took on an apprenticeship as a barber. . Rooney as president of its AM Multigraphics Division, located in Mount Prospect, Ill. Mr. Rooney has served in a number of capacities with AM International and its subsidiaries over his 22-year career with the company, and retains his current positions of vice president and chief financial officer of the company in addition to the new responsibilities. AM International Monday also announced that it has executed a nonbinding letter of intent with JAC JAC Journal of Antimicrobial Chemotherapy JAC Joint Astronomy Centre JAC Joint Advisory Committee (Board of Directors for SEI) JAC John Abbott College JAC Juvenile Assessment Center JAC Joint Analysis Center Co. Ltd., a Japanese marketing firm, for the sale of the 2,148,000 shares of AM Japan Co. Ltd., owned by AM International. AM International owns approximately 66.3 percent of the outstanding shares of AM Japan. For the year ended July 31, 1995, AM Japan had net income of $400,000 on revenues of $34 million. The letter of intent contemplates a tender offer for the shares of AM Japan at a price of 575 yen per share (or approximately $5.33 per share at current exchange rates). The consummation of the transaction is subject to JAC Co.'s continuing due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , the execution of a definitive agreement and certain other conditions. The purchase price may be amended by the parties based upon the results of JAC Co. due diligence. The letter of intent contemplates that the parties will work toward the negotiation and execution of a definitive purchase agreement in late August and a closing in late September. AM Japan would continue as a distributor of AM International's products. There can be no assurance that a definitive agreement can be reached or that a transaction will be consummated. AM International has retained the services of Yamaichi Securities Yamaichi Securities Co., Ltd. (山一證券株式会社 Co. Ltd. in connection with the proposed sale of the shares of AM Japan. The stock of AM International, which has corporate headquarters located in Rosemont, is traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors ``AM.'' CONTACT: AM International Inc., Rosemont Thomas D. Rooney, 847/375-1800 |
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