Aura Restructures Approximately $17 Million in Debt.Business Editors EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and , Calif.--(BUSINESS WIRE)--Feb. 23, 2000 Aura Systems Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:AURA) today announced that it has closed a final agreement with the Infinity Group restructuring more than $17 million of the company's debt. The company has now eliminated more than $34 million of the debt by the conversion of the debt into equity or by debt forgiveness. The company also announced that its March 6 annual shareholders meeting will be held at the company's headquarters in El Segundo at 3 p.m. Shareholders of record on Jan. 14, 2000 will be eligible to attend and vote at the annual meeting. In addition to the mailings, the company's proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. can be found on its Web site as listed below. "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: The statements contained in this release that are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in the company's Securities and Exchange Commission filings. |
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