Ashton Technology To Extend Consent Solicitation Period On Amendment Of Redeemable Common Stock Purchase Warrants To January 8, 2001.Business Editors/Hi-Tech Writers PHILADELPHIA--(BUSINESS WIRE)--Dec. 14, 2000 The Ashton Technology Group, 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 :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 today that it is extending to January 8, 2001 the date by which consent must be received under its Consent Solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with on Amendment of the Warrant Agreement of the Company's Redeemable Common Stock Purchase Warrants. The Consent Statement was filed with the Securities and Exchange Commission and mailed to all holders of Redeemable Common Stock Purchase Warrants on November 6, 2000. The Consent Solicitation seeks to amend the terms set forth in the Warrant Agreement by reducing the Redemptive Trading Price Trading price The price at which a security is currently selling. of the Redeemable Warrants from $6.75 per share to $5.50 per share, and by decreasing the Exercise Price of the Redeemable Warrants from $5.85 per Redeemable Warrant to $4.50 per Redeemable Warrant. The consent of holders of record of Redeemable Warrants at the close of business on November 3, 2000, representing not less than two-thirds of the Redeemable Warrants outstanding is required for authorization and approval of the proposed Amendment. The Company's Board of Directors supports the Consent Solicitation. The Ashton Technology Group, Inc. is an eCommerce company developing a network of affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. . The Ashton companies build and market technology-based products and services enabling businesses and consumers to execute better-informed transactions within global electronic marketplaces. The Ashton companies create electronic transaction and distribution systems for the global 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 utilizing advanced telecommunication, computing, data and information security, and Internet technologies. The foregoing press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. based on current management expectations. A variety of important factors could cause results to differ materially from such statements. Factors that could cause actual results to differ from current expectations include whether the Company will receive the number of consents required to amend the Warrant Agreement. Other risks are described in greater detail in the Company's filings with the Securities and Exchange Commission including those on Forms 10-K and 10-Q. |
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