CLC Healthcare, Inc. Announces Agreement and Plan of Merger.Business Editors/Health/Medical Writers DALLAS--(BUSINESS WIRE)--Oct. 6, 2003 CLC (The Computer Language Company Inc.) The publisher of this Encyclopedia. See About this product. Healthcare, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CLCE CLCE Civic Learning and Community Engagement (San Diego State University; California) ), today announced that it had signed an Agreement and Plan of Merger ("Agreement") with Center Healthcare, Inc. ("CHI") and CHI's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , CHMS CHMS Certified Home Marketing Specialist (real estate agent certification) CHMS Church Management Software CHMS Church Management System CHMS Chapel Hill Middle School (Douglasville, Georgia) , Inc. The Agreement provides that in the merger each outstanding share of CLC's $.01 par value common stock will receive $1.00 in cash. CLC currently has 2,132,826 common shares outstanding. After the merger CLC will be a wholly owned subsidiary of CHI. Consummation of the merger is subject to customary conditions, including shareholder approval by the holders of sixty-six and two thirds percent (66 2/3%) of the outstanding CLC shares. The Board of Directors of CLC has established October 10, 2003, to be the date of record for stockholders to vote at a Special Meeting. CLC will immediately file a preliminary proxy statement with the Securities and Exchange Commission. CLC will announce the date of the Special Meeting of the Stockholders to vote on this matter at the time the proxy statement is mailed to shareholders. |
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