Century Industries Announces Acquisition of Worldwide Network, Inc., a Growing National Health Products Distribution Company, and Change of Control of Century to Worldwide's Shareholders.Business Editors WASHINGTON--(BUSINESS WIRE)--Jan. 19, 2000 Century Industries, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BB CNTI CNTI Confederação Nacional Trab Industria ) announced today that its shareholders voted pursuant to D.C. Code section 29-375, to vend its assets to Globespan Technologies PLC (Republic of Ireland) for 1,800,000 shares of Globespan to be distributed at 1p Irish to its public shareholders who determine to accept the proposal, and simultaneously, the Century shareholders voted to acquire the assets of Worldwide Network as a going concern. The shareholders further voted in favor of Century replacing its Class A and Class B shares with one unitary class of shares with equal one for one voting rights Voting rights The right to vote on matters that are put to a vote of security holders. For example the right to vote for directors. voting rights The type of voting and the amount of control held by the owners of a class of stock. . The public shareholders will now own what were formerly Class A shares. Interactive Gaming & Communications Corp. (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 OTC:BB "SBET"), which acquired the control block of Century on June 23, 1999, voted for these resolutions, thus fulfilling their requirement to provide the Century public shareholders with "an equal to or better deal" than the Century control shareholders originally received for their shares. IGC (Integrated Graphics Controller) The inclusion of the video display circuitry on the motherboard. An IGC is typically contained in the chipset, such as the Northbridge. See integrated graphics and IGP. IGC - Institute for Global Communications now becomes a non affiliated shareholder in Century by virtue of these events. IGC's control shareholders, which included the former Century control shareholders, in a separate transaction, transferred the 51% IGC control block to Globespan Technologies Group PLC, in the Republic of Ireland. Globespan will now consolidate the ownership of IGC and Century. Ireland has been referred to in the MSNBC MSNBC Microsoft/National Broadcasting Company financial news series as the "Celtic Tiger", as its economy is growing at a 20% annual rate due to the explosive growth of its high technology sector. IGC and Century decided that this solution would potentially maximize the Century shareholders' investments in the Company, with Century's go forward business model being the Worldwide national distribution of healthcare products, and Globespan's emphasis on the development of internet technologies. The Century shareholders retained their Century shares and are entitled to receive, at 1p Irish per share, the Globespan shares. Century has filed the requisite 8-K disclosures with the SEC's EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. , and will announce the Worldwide Network Business Model descriptions in a subsequent release. 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. in this release are made pursuant to the "safe harbor" 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities & Exchange Commission. |
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