CLARIFICATION OF BW0011, CO-METRETEK TECHNOLOGIES.Business Editors CLARIFICATION by...Metretek Technologies Inc. Metretek Technologies Inc. Clarifies Statement Regarding Proposed Call of Certain Warrants DENVER--(BUSINESS WIRE)--July 3, 2000 Metretek Technologies Inc. (Nasdaq:MTEK MTEK Mbs Traffic Encryption Key ) earlier today announced that it had filed an amended registration statement with the Securities and Exchange Commission in connection with a proposed call of all unexercised common stock purchase warrants that were issued by the company in September 1998 as a dividend to its stockholders. The company incorrectly stated that it has the right to redeem redeem v. to buy back, as when an owner who had mortgaged his/her real property pays off the debt. The term also refers to paying the amount due and all charges after a foreclosure (due to failure to make payments when due) has begun. all unexercised warrants for $4 on 30 days prior notice provided that the last sale price of its common stock equals or exceeds $6.50 for 20 consecutive trading days In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. . The warrants are exercisable at $4, but the company has the right to redeem all unexercised warrants for $0.01. Metretek Technologies -- through its subsidiaries PowerSpring Inc., Metretek Inc. and Southern Flow Companies Inc. -- is a diversified diversified (di·verˑ·s provider of energy measurement products, services and data management systems to industrial and commercial users and suppliers of natural gas and electricity. Additional information may be found at www.metretek.com. Statements in this news release that look forward in time are made pursuant to the 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. provisions of 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. Such 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. are subject to risks and uncertainties that could cause actual results to differ materially from those contained, projected or implied in the forward-looking statements. These risks and uncertainties include, but are not limited to, those described from time to time in the company's reports with the Securities and Exchange Commission, including the company's most recent Form 10-KSB and Form 10-QSB. The company undertakes no responsibility to update any oral or written forward-looking statements made by the company. |
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