BAT International Announces It Is Fighting an Attack By Corporate Raiders.SAN DIEGO--(BUSINESS WIRE)--Nov. 2, 1999-- BAT International (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BAAT BAAT British Association of Art Therapists ) announced today that it has been fighting against an attack by corporate raiders. The company stated that it is under attack by corporate raiders because the price of BAT International's stock is selling at an eight year low. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the company, investment professionals have surmised that the raiders incentive for attacking BAT International is that the company's equity positions in its subsidiaries, which have demonstrated valuable technologies, is collectively worth more than BAT International itself if its subsidiary equities were sold off separately. This is a typical corporate raider scenario aimed directly at control of corporate assets and shareholder equity. The company said that an attorney and a small group of stockholders, who own less than one percent of BAT International, have initiated the assault on BAT International. If their attack is successful, this group could conceivably gain possession of BAT International assets and quickly dispose of them for themselves. This would give the raiders a huge windfall profit Windfall profit A sudden unexpected profit uncontrolled by the profiting party. . In effect, over 13,000 active, loyal BAT International stockholders would be deprived of their assets. In order to temporarily thwart this assault, BAT International management said it acted quickly to redirect most of the company's resources BAT International entered into a proactive, defensive mode in August. The company, which is a prolific public information disseminator, said it temporarily limited some public information distribution to the media because there was significant evidence that new information about BAT International's technological progress was giving the corporate raiders new portals to expand their attack. For example, a variety of false accusations were being disseminated to BAT International contractors, investors, customers, and even contract employees by these corporate raiders in order to disrupt operations, cause confusion and weaken the company's ability to defend itself. While it was dealing with assaults on the company, BAT International said it did some things that seemed unusual including moving corporate offices from Chula Vista, California “Chula Vista” redirects here. For the area in Florida, see Chula Vista, Florida. Chula Vista is a city in southern San Diego County, California, United States. . The company said that telephone and other information systems were interrupted because of this move, all of which were caused, directly or indirectly, by corporate raiders intensely attacking the company during the past several months. During this quiet period, BAT International said it has reorganized its resources and gained information and sufficient initial strength to begin to aggressively pursue offensive litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . According to BAT International, company stockholders have been materially hurt by this subversive attack and BAT International intends to aggressively fight back with litigation. BAT International said it still maintains its strong equity base and intends to use a small portion of that equity to pay for litigation. The company said it has fought many successful battles in the past regarding the development and introduction of advanced alternative transportation technologies. For those who are not familiar with BAT International's past activities, the following is a review the company has provided according to Joe LaStella, president of BAT International: BAT International In Perspective BAT International is a world-class think tank that includes many highly respected engineers and scientists who have volunteered their expertise to help make planet Earth a better place to live. These people have played a very important role in helping the company develop breakthrough technologies and establishing new laws New Laws: see Las Casas, Bartolomé de. to preserve and enhance the world's environment. BAT International is also an internationally known company that is recognized for its ability to fight against great odds to help improve the environment. Among its many challenges, the company has fought battles for government adoption of electric vehicles, enactment of laws for use of clean fuels, and the design and development of the highest efficiency internal combustion engines Internal combustion engine A prime mover, the fuel for which is burned within the engine, as contrasted to a steam engine, for example, in which fuel is burned in a separate furnace. . These battles were fought on the front pages of every major newspaper in the U.S. including USA Today USA Today National U.S. daily general-interest newspaper, the first of its kind. Launched in 1982 by Allen Neuharth, head of the Gannett newspaper chain, it reached a circulation of one million within a year and surpassed two million in the 1990s. and the Washington Post. Over 500 newspaper and magazine articles have covered the history of BAT International and its innovative technologies. Television news media have frequently covered the company's project demonstrations on many networks, including stories on CNN CNN or Cable News Network Subsidiary company of Turner Broadcasting Systems. It was created by Ted Turner in 1980 to present 24-hour live news broadcasts, using satellites to transmit reports from news bureaus around the world. Headline News and a two-part special on "Cover Story" on NBC News NBC News (along with NBC News + HD) is the news division of American television network NBC, a part of NBC Universal, which is majority-owned by General Electric. Its current president is Steve Capus. It is the top-rated broadcast news division and has been for a decade. . In one month, BAT International received 340,000 hits on its corporate web site from users seeking information in 50 countries around the world. BAT International's accomplishments extend to state and national levels. Governor Levitt of Utah once drove BAT International's electric car with Joe LaStella, President of BAT International, as a passenger. After the Governor's enthusiastic test drive during Utah's first Zero Emission Zero emission refers to an engine, motor, or other energy source, that emits no waste products that pollutes the environment or disrupts the climate. Zero emission engines Day, the Governor awarded BAT International and Mr. LaStella with a commemorative plaque A commemorative plaque, or simply plaque, is a plate of metal, ceramic, stone, wood, or other material, typically attached to a wall, stone, or other vertical surface, and bearing text in memory of an important figure or event. in honor or the company's significant technological achievements. These achievements have also included world records set by BAT International alternative fuel vehicles Alternative fuel vehicle Conventional fuels such as gasoline and diesel are gradually being replaced by alternative fuels such as gaseous fuels (natural gas and propane), alcohol (methanol and ethanol), and hydrogen. which were covered by all major television and print news media. At the Federal Government level, U.S. Senator Bennett and U.S. Senator Hatch have defended and supported BAT International's goals. Senator Feinstein presented BAT International and Mr. LaStella with commendation COMMENDATION. The act of recommending, praising. A merchant who merely commends goods he offers for sale, does not by that act warrant them, unless there is some fraud: simplex commendatio non obligat. awards. Mr. LaStella was also selected as a candidate for "Entrepreneur of the Year" by Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. in 1998. Many senators, congressmen and mayors have also helped support BAT International's environmental programs. Over the years, BAT International has won many environmental and political battles because it has a very large and highly supportive national network of environmentally concerned investors and professionals. Of course, the company also has some adversaries as a result of the firm stance the company has had to take to pursue its mission. In summary, BAT International's strong equity position is the result of technologies that have been developed over the past eight years. News about the company's engineering achievements has been disseminated worldwide by national and international media. Now the company's equity is being threatened by unscrupulous individuals who might succeed in depriving BAT International and its stockholders of their equity. BAT International needs support from its stockholders to continue to pursue aggressive litigation against these corporate raiders and protect investor equity. The company is asking all shareholders and other supporters to make a minimum contribution (gift) of twenty dollars to the BAT International Legal Defense Fund. BAT International has 13,000 + active, loyal stockholders who collectively represent a very formidable force to fight off this attack. The company will use every contribution for legal purposes and, in appreciation for timely support, will send each contributor a complementary bottle of the company's outstanding lubricant Lubricant A gas, liquid, or solid used to prevent contact of parts in relative motion, and thereby reduce friction and wear. In many machines, cooling by the lubricant is equally important. additive, SuperBAT TVT TVT transmissible venereal tumor. metal treatment additive for their vehicles. Please refer to the SuperBAT TVT web site at www.superbat.com for additional product information. BAT International stockholders and other supporters are asked to send contributions to: BAT International Legal Defense Fund, 858 3rd Ave., Suite 455, Chula Vista Chula Vista (ch `lə), city (1990 pop. 135,163), San Diego co., S Calif., on San Diego Bay; inc. 1911. , CA 91911-1305. All inquiries that desire a personal response should send email to joelastella@earthlink.net. During the next three weeks, BAT International will be releasing new information about exciting company developments, reorganization of company divisions, and a complete redesign of the company's flagship web site, www.baat.com, in order to provide stockholders with up-to-date information. BAT International is a publicly traded over-the-counter company. Stock quotes for BAT International can be obtained from www.aol.com, www.stockmaster.com and www.bloomberg.com. BAT International is organized as a holding company with major ownership in subsidiary companies that are commercializing advanced automotive and energy technology products developed by BAT International. Technologies developed over the last 8 years include electric vehicles, composite chassis, super-efficient or high power IC engines, electric bicycles and scooters List of scooter models per manufacturer Aprilia
This press release contains forward-looking statements that should not be used to make an investment decision. Please refer to the web sites (www.baat.com, www.electrobike.com and www.superbat.com) and other sources for recent and detailed company information on BAT International and its subsidiaries, or call Investor Relations Investor relations The process by which the corporation communicates with its investors. at 619/409-8977. |
|
||||||||||||||

`lə)
Printer friendly
Cite/link
Email
Feedback
Reader Opinion