COMMUNICATIONS CENTRAL INC. ANNOUNCES ASSET PURCHASE AGREEMENT WITH RC&A CORRECTIONAL FACILITY NETWORK.ATLANTA--(BUSINESS WIRE)--March 28, 1995--Communications Central Inc. (Nasdaq/NMS:CCIX CCIX Continuous Countercurrent Ion eXchange CCIX Climatic Change Information Exchange ) announced today it has executed a definitive asset purchase agreement with Robert Cefail & Associates, Inc. (RC&A) of Clearwater, Florida Clearwater is a city located in central Pinellas County, Florida, USA, nearly due west of Tampa. As of the 2000 census, the city had a total population of 108,787; however, according to the 2005 U.S. Census Bureau's estimates, the city's population fell slightly to 108,687. . As previously announced, the Company entered into a letter of intent to purchase substantially all the assets of RC&A on March 16. The definitive agreement provides for the acquisition of 2,300 installed and 100 uninstalled inmate INMATE. One who dwells in a part of another's house, the latter dwelling, at the same time, in the said house. Kitch. 45, b; Com. Dig. Justices of the Peace, B 85; 1 B. & Cr. 578; 8 E. C. L. R. 153; 2 Dowl. & Ry. 743; 8 B. & Cr. 71; 15 E. C. L. R. 154; 2 Man. & Ry. 227; 9 B. & Cr. lines for approximately $14.5 million in cash and a $1.0 million note to be paid in equal installments over the next six quarters. Second, the rights to install approximately 900 additional inmate lines will be acquired in the transaction. The price for the additional lines will be paid 150 days after installation and should not exceed $5.4 million, payable in cash. The total purchase price for all lines is approximately $20.9 million. The transaction is subject to certain conditions, including the satisfactory completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , approval of CCI's Board of Directors and its bank. CCI CCI Chambre de Commerce et d'Industrie (France) CCI CAM (Complementary and Alternative Medicine) Citation Index CCI Chamber of Commerce and Industry (Western Australia) anticipates the acquisition will be completed by mid to late April. In addition to the 2,300 installed and 1,000 uninstalled inmate lines, the Company will enter into a continuing marketing agreement with RC&A, which may add over 500 inmate lines per year to CCI's growing inmate phone network. CCI will retain the right to approve or reject any additional locations or lines contracted through the marketing agreement. Founded in 1986 and headquartered in Atlanta, Georgia, CCI is a leading provider of payphones and inmate phones. The Company serves a broad range of government, corporate and independent accounts. CCI currently owns and operates a network of over 24,000 payphones and inmate phones located in 36 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . CONTACT: Communications Central Inc., Atlanta Terry L. Colbert, 404/442-7311 |
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