Aduddell Industries Announces Definitive Merger Agreement With Brent Anderson & Associates.OKLAHOMA CITY Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm -- Aduddell Industries, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ADDL ADDL Additional ADDL Animal Disease Diagnostic Laboratory (University of the Philippines, College of Veterinary Medicine) ADDL American Double Dutch League ADDL Amyloid Beta-Derived Diffusible Ligand ) today announced that it has entered into a definitive merger agreement with Brent Anderson & Associates Inc., a privately held concrete restoration, below grade waterproofing and roofing company in Minneapolis, Minnesota. As previously announced, Aduddell Industries and Brent Anderson & Associates had signed a letter of intent to merge, pending negotiation of terms. Under the terms of the definitive agreement, Brent Anderson & Associates will receive 2 million shares of Aduddell stock and approximately $1.85 million in cash. Brent Anderson will also receive up to $2.6 million worth of common stock in total over the next three years contingent upon predetermined pre·de·ter·mine v. pre·de·ter·mined, pre·de·ter·min·ing, pre·de·ter·mines v.tr. 1. To determine, decide, or establish in advance: performance criteria. Speaking of the merger, Aduddell Industries President and Chief Executive Officer Stan Genega said, "We are pleased with the closing of this transaction. As we previously disclosed, the acquisition is expected to add approximately $25 to $30 million in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue and be accretive to calendar 2007 earnings along with significant opportunities for growth. It solidifies us as a key competitor in the U.S. restoration market and we look forward to its contributions to our growth." About Aduddell Industries Aduddell Industries, Inc. is the holding company of Aduddell Roofing, www.aduddell.com, one of the leaders in the commercial roofing industry nationwide. Through Aduddell Roofing and other subsidiaries, Aduddell Industries offers Fortune 500 companies and large governmental agencies a broad range of roofing services, including re-roofing, restoration and repair, new roof construction, sheet metal fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. , and waterproofing. In addition to work on large projects and high security roofing matters, the company has a nationally recognized track record for handling disaster recovery and emergency projects efficiently and cost effectively. More information about Aduddell Industries can be found at www.aduddell.com. "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. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. |
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