Chadmoore Wireless negotiates restriction of options exercise.LAS VEGAS--(BUSINESS WIRE)--Jan. 30, 1997-- Acquisition options locked up until January 1998, restricted thereafter Chadmoore Wireless Group Inc. (NASDAQ/BB: MOOR), announced today that it had re-negotiated the transaction relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the acquisition of 800 SMR (Specialized Mobile Radio) The communications services used by police, ambulances, taxicabs, trucks and other delivery vehicles. Throughout the U.S., approximately 3,000 independent operators are licensed by the FCC to offer this service, which provides always-on and CMRS (Commercial Mobile Radio Service) An organization that provides cellular, PCS, mobile radio, paging and other wireless services. A good source of information can be found at http://wireless.fcc.gov/cmrsreports.html. Inc., thereby locking up the related options through year end and restricting their exercise thereafter. Chadmoore said that the purpose of the renegotiation was to restrict the exercise of the remaining option for 5.5 million underlying shares of common stock. Under the terms of the renegotiation, the option for the 5.5 million shares cannot be exercised until after Jan. 1, 1998. At that time the option exercise will be restricted to 100,000 shares per quarter for the first two calendar quarters and to 250,000 shares per calendar quarter thereafter. The exercise price remains unchanged from the original transaction. Robert Moore Robert Moore may refer to
Chadmoore Wireless Group Inc. is engaged in the business of wireless communication utilizing 800 MHZ SMR frequencies throughout the Midwest and Southeast. SMR, one of the fastest growing types of wireless communications in the United States, currently services over two million radio users, with total industry sales of over $200 million. Chadmoore now manages over 7,000 SMR frequencies serving a population in excess of 60 million. The company owns and operates SMR systems in Memphis, TN and Little Rock, AR with annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. gross revenues in excess of $2 million. CONTACT: Chadmoore Wireless Group Inc. Robert Moore, President 702/891-5255 or KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Joseph A. Mansi/Paul Holm 212/682-6300 ext. 205/201 |
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