Ashton Technology Group Announces Stockholder Approval of Increases in Authorized Shares.PHILADELPHIA--(BUSINESS WIRE)--June 3, 1998--The Ashton Technology Group, Inc. (Nasdaq Small Cap Market: ASTN ASTN Automatic Switched Transport Network (optical networks) ASTN Automatically Switched Transport Network (ITU-T) ASTN Automotive Satellite Television Network ASTN Astern ASTN Astronomic ) announced that on May 29, 1998, at a special meeting of stockholders, the holders of its 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. approved amendments to its certificate of incorporation certificate of incorporation n. some states issue a certificate to prove a corporation's existence upon the filing of Articles of Incorporation. In most states the Articles are sufficient proof. increasing the number of shares of common stock authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: from 20,000,000 shares to 60,000,000 shares and preferred stock authorized from 1,000,000 shares to 3,000,000 shares. In addition, the stockholders approved the issuance of shares of common stock pursuant to certain put rights and upon the conversion or exercise of the company's Series D Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". , Series E Convertible Preferred Stock, and warrants to purchase common stock in connection with a private equity line of credit agreement among the company, Settondown Capital International Ltd., which served as placement agent for a recent private sale of the company's securities, and certain purchasers of such securities. The approval of these proposals permits the company to comply with its commitments in connection with the issuance of preferred stock and the grants of stock options and warrants. The increase in authorized common and preferred stock is an important factor in the achievement of the Company's global business plan. This plan includes the expanded marketing of on-line transaction systems in international exchange and non-exchange markets and the continued growth of the Company's market research and financial counseling subsidiary, Gomez Advisors. The shares of common and preferred stock may be used for potential acquisitions, strategic partnering, and the recruitment of executive personnel. ATG ATG antithymocyte globulin. lymphocyte immune globulin (antithymocyte globulin equine, ATG, ATG equine, LIG) Atgam Pharmacologic class: Immunoglobulin Therapeutic class: Immunosuppressant is an Internet technology company, providing products and services to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry. ATG is developing a family of on-line transaction systems using advanced telecommunication technologies, advanced computing technologies, together with state of the art data and information security technologies that will facilitate transactions among participants in the financial markets. ATG's proprietary transaction systems will be made available to end users through both proprietary communications networks The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. and the Internet. The company was founded in 1994 in order to exploit commercial opportunities resulting from the intersection of eCommerce technologies and the financial services industry.
CONTACT: Christine A. Geisser, Director of Corporate Relations
of The Ashton Technology Group, Inc. 1900 Market Street, Suite 701,
Philadelphia, PA 19103. Telephone: 215/751-1900, Telefax:
215/636-3560.
CONTACT: The Ashton Technology Group Inc.
Christine A. Geisser, director of Corporate Relations,
215/751-1900, Telefax: 215/636-3560
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