Angelo & Maxie's, Inc. Announces Sale of Chart House Restaurants and Name Change.Business Editors CHICAGO--(BUSINESS WIRE)--Aug. 2, 2002 Angelo & Maxie's Inc., formerly known as Chart House Enterprises, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : FISH), announced that it has completed the sale of its 38 existing Chart House restaurants and one Peohe's restaurant effective as of July 29, 2002. The Angelo & Maxie's restaurants, also owned by the Company, were not included in the transaction. Proceeds of the sale permitted the Company to retire all of its senior and subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". outstanding as of August 1, 2002. In connection with the restaurant sale, the Company's stockholders approved changing the Company's name to Angelo and Maxie's, Inc. The NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). has informed the Company that, effective on Monday, August 5, 2002, the Company's common and preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. will begin trading under the symbols AGMX AGMX Agammaglobulinemia, X-Linked and AGMXP. Angelo and Maxie's, Inc. common and preferred stock are listed on the NASD OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Counter Bulletin Board. Headquartered in Chicago, Angelo and Maxie's, Inc. currently operates 6 Angelo and Maxie's steakhouses in the continental United States United States territory, including the adjacent territorial waters, located within North America between Canada and Mexico. Also called CONUS. . Certain of the statements contained in this press release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include financial projections, estimates and statements regarding plans, objectives and expectations of the Company and its management. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Information on significant potential risks and uncertainties is set forth more fully in the Company's filings with the Securities and Exchange Commission, including quarterly reports on Form 10- Q, reports on Form 8-K and annual reports on Form 10-K. |
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