CGAS announces small shareholder purchase program.COLUMBUS, Ohio--(BUSINESS WIRE)--May 30, 1995--(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 :CGAS CGAS Coast Guard Air Station CGAS Children's Global Assessment Scale ) Clinton Gas Systems Inc. (``CGAS''), a natural gas and oil producer and marketer, announced today that it is mailing an offer to all registered holders of 99 shares or less to purchase their shares free of commissions. Shares purchased by CGAS under the program will be bought at the greater of $4.00 per share or the average of the closing market prices for the last two weeks of the offer--July 17 through July 31, 1995. CGAS reported that the program will allow small shareholders to sell their shares without incurring commissions. CGAS will not charge the customary bonding cost to shareholders who qualify for and liquidate To pay and settle the amount of a debt; to convert assets to cash; to aggregate the assets of an insolvent enterprise and calculate its liabilities in order to settle with the debtors and the creditors and apportion the remaining assets, if any, among the stockholders or owners of the their lost certificate shares under the terms of the program. CGAS announced that it would not accept partial tenders, since retention of shares would be in conflict with the company's goal of reducing its shareholder servicing costs. Clinton Gas Systems Inc. is an Ohio corporation which, through its subsidiaries, is engaged in the business of natural gas and oil exploration, production and marketing and industrial energy management. Its principal offices are located at 4770 Indianola Ave., Columbus, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. 43214. Its shares are traded on 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 ``CGAS.'' CONTACT: Clinton Gas Systems Inc., Columbus J.D. Jordan or Donald A. Nay, 614/888-9588 |
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