Centra Completes First Phase and Extends Closing Date of Tenders for Additional Shares in the Acquisition of Powerhouse.SAN FRANCISCO--(BUSINESS WIRE)--May 5, 1998--Centra Capital Corporation (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 :CENC CENC Community Environmental Health Concerns CENC Convergent Engine Nozzle Control ), announced today the completion of the acquisition of approximately 54% of the issued and outstanding shares of Powerhouse A fourth-generation language from Cognos that was introduced in the late 1970s for midrange computers. It supports both character-oriented, terminal-based applications as well as Windows clients. Applications developed under PowerHouse can be imported into Cognos' Axiant client/server environment. Resources, Inc. from a number of UK Investors. This acquisition makes Centra the single largest voting shareholder in Powerhouse and eligible for representation on the Board of Directors of Powerhouse. The Company also announced an extension to the closing date of the tender offer made on Oct. 10, 1997 to all shareholders of Powerhouse, who are not United States Persons The term United States person or U.S. person is used in the context of data collection and intelligence by the United States, particularly with respect to the provisions of the Foreign Intelligence Surveillance Act. If information from, about, or to a U.S. , in which Powerhouse shares will be exchanged for a new class of Centra preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. and a warrant to purchase a common share. The preferred shares, created especially for this transaction, will have superior rights to the existing Centra common shares including conversion to common shares or redemption for cash, and preference to dividends should they be declared in the future. The tender offer is firm and will remain open until May 31, 1998. The Company has made the offer with no minimum requirement for the number of shares tendered or any other conditions. The Company will issue the preferred shares of Centra no later than 15 June 1998. Centra Capital Corporation (NASDAQ:CENC) is an active investment holding company that acquires service companies and provides capital. The management of the Company believes that they can oversee and contribute to expanding the business of the acquired companies. Centra Capital Corporation was organized in 1985, and re-domiciled in Delaware Delaware, state, United States Delaware (dĕl`əwâr, –wər), one of the Middle Atlantic states of the United States, the country's second smallest state (after Rhode Island). in April 1995. CONTACT: Centra Capital Corporation Matthew Zuckerman, 650/964-2810 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion