CGAS announces merger approval.COLUMBUS Columbus. 1 City (1990 pop. 178,681), seat of Muscogee co., W Ga., at the head of navigation on the Chattahoochee River; settled and inc. 1828 on the site of a Creek village. , Ohio--(BUSINESS WIRE)--Aug. 26, 1996--Clinton Gas Systems, Inc. ("CGAS CGAS Coast Guard Air Station CGAS Children's Global Assessment Scale ") announced the voting results tabulated at its special shareholders meeting on Aug. 22, 1996. With 80.4 percent of its outstanding shares voted, CGAS shareholders overwhelmingly approved the company's merger with Joint Energy Development Investments Limited Partnership ("JEDI"), an affiliate of Enron Enron A U.S. energy-trading and utilities company that housed one of the biggest accounting frauds in history. Enron's executives employed accounting practices that falsely inflated the company's revenues, which, at the height of the scandal, made the firm become the seventh Capital & Trade Resources Corp. Mr. Jordan said JEDI will acquire shares of CGAS common stock at a price of $6.75 per share in cash. The merger is expected to close early the week of Sept. 3, 1996 and, upon satisfaction of all closing matters, American Stock Transfer & Trust Co., the paying agent Paying Agent An agent who accepts payments from the issuer of a security and then distributes the payments to the holders of the security. Also known as a "disbursing agent. , will contact CGAS shareholders and brokers with instructions for surrender of shares for payment. CGAS is an independent oil and natural gas exploration and production company, and a natural gas service company. The shares of CGAS have been traded on the National Market Tier of the NASDAQ stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol of "CGAS." CONTACT: Clinton Gas Systems, Inc., Columbus Jerry D. Jordan or Donald A. Nay, 614/888-9588 |
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