AOD will take up deposited common shares of Hard Suits.LAFAYETTE, La.--(BUSINESS WIRE)--Oct. 30, 1996-- Announces conditions of Hard Suits' offer have been met AOD See HD DVD. Acquisition Corp., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of American Oilfield Divers Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : DIVE), announced today that all conditions of its offer to acquire Hard Suits Inc. ("HSI") have been met, and it will take up the deposited common shares of HSI. Among the conditions met were the valid deposit of at least 50.1 percent of the voting rights attached to all of the common shares of HSI outstanding, and the reconstitution of HSI's board of directors to reflect AOD's majority shareholding. As previously announced, AOD has extended its offer to acquire all of the issued and outstanding common shares of HSI at a price of CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $1.65 per share (US$1.20 per share) to Nov. 8, 1996, to permit all HSI shareholders an opportunity to tender prior to expiry. American Oilfield Divers Inc., is a leading provider of diving services, subsea products, marine construction and environmental services to the offshore oil and gas industry, primarily in the U.S. Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , U.S. West Coast, internationally and to certain U.S. inland customers. CONTACT: American Oilfield Divers Inc. Greg Rosenstein or Cathy Green, 318/234-4590 |
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