Asean Holdings Inc. -- Extraordinary General Meeting of Its Shareholders for Oct. 26, 1995.VANCOUVER, B.C.--(BUSINESS WIRE)--SEPTEMBER 1, 1995-- ASEAN ASEAN: see Association of Southeast Asian Nations. ASEAN in full Association of Southeast Asian Nations International organization established by the governments of Indonesia, Malaysia, the Philippines, Singapore, and Thailand in HOLDINGS INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (VSE See DOS/VSE. VSE - Virtual Storage Extended :AHI AHI, n.pr See Aviation Health Institute. ) The Board of Directors of the company has called an extraordinary general meeting of its shareholders for October 26, 1995 for the purpose of seeking approval to a name change and a consolidation of the Company's capital. The proposed new name for the Company is "Doppler Computers Inc." which will better reflect the business of the Company. The proposed consolidation will provide for a five to one consolidation of the Company's shares. Both the name change and consolidation are subject to regulatory approval. The Company is presently in the process of amalgamating Doppler Industries Incorporated, 501906 B.C. Ltd. (formerly known as Innovative Computing Ltd.) and Strategic Operations Ltd. All three of these companies are wholly-owned subsidiaries of the Company. Doppler Industries Incorporated presently operates the Doppler Computer Superstore in Vancouver, 501906 B.C. Ltd. operates the Calgary store and Strategic Operations Ltd., through a wholly-owned U.S. subsidiary, operates the Seattle stores. Once the Amalgamation amalgamation /amal·ga·ma·tion/ (ah-mal´gah-ma´shun) trituration (3). amalgamation ( takes place, the amalgamated a·mal·ga·mate v. a·mal·ga·mat·ed, a·mal·ga·mat·ing, a·mal·ga·mates v.tr. 1. To combine into a unified or integrated whole; unite. See Synonyms at mix. 2. company will be known as Doppler Industries Incorporated. As previously announced, with the acquisition of the remaining 30 percent of Doppler Industries Incorporated the vendors agreed to an accelerated earn-out in the amount of $1,024,022 which was due to be paid by the Company on August 20, 1995. As part of the above announced restructuring and amalgamation, the Company is in the process of negotiating an extension of this payout to September 22, 1995. In the interim, the Company has agreed to pay interest on the outstanding balance at a rate equal to the Royal Bank prime rate until the date of payment. As announced on July 20, 1995, the Company has now granted to Mr. Fred Paulsell, a director of one of the Company's subsidiaries, an incentive stock option to purchase up to 250,000 shares in the capital of the Company at an exercise price of $1.00 per share. This option may be exercised, while Mr. Paulsell remains a director, at any time before June 16, 2000. For further information regarding the Company's development plans please contact Angela Suriyamongkol, of our investor relations Investor relations The process by which the corporation communicates with its investors. staff, at 604 - 669 - 2868. -0- NOTE: THE VANCOUVER STOCK EXCHANGE Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE. CONTACT: Angela Suriyamongkol, 604/669-2868 604/683-2599 (FAX) |
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