Chairman Pierre Narath Purchases 443,588 Shares of TouchStone Software Stock.NORTH ANDOVER, Mass.--(BUSINESS WIRE)--Nov. 4, 1999-- TouchStone Software Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: TSSW TSSW Technical Support Software .OB), a leading developer of innovative software to help people use complex technologies, today announced that Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Pierre Narath purchased 443,588 shares of common stock in the company. The shares were purchased from former TouchStone Board members, Larry W. Dingus din·gus n. Slang 1. An article whose name is unknown or forgotten. 2. A person regarded as stupid. [Dutch dinges, whatchamacallit, from German Dings and Carolyn S. J. Dingus. Narath, who was the company's largest shareholder prior to the transaction, now holds a total of 3,223,588 shares. "This purchase demonstrates my commitment to TouchStone software and my confidence in the success of our business model," stated Narath. "I am committed to increasing shareholder value in the company, for both personal and professional reasons." Upon the recent acquisition of Unicore Software, which had been a 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. of Phoenix Technologies (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 : PTEC PTEC Pinellas Technical Education Centers (Clearwater, FL) PTEC Pharmacy Technician Educators Council PTEC Psychiatric Technician PTEC Plastics Technical Evaluation Center PTEC Page Table Edit Control ), it was expected that more than three-quarters of the $4.5 million purchase price would be paid in TouchStone's common stock. The remaining balance of $3,335,000 was paid for in common stock valued at one dollar per share. The purchase follows the announcement of a change in the Board of Directors. The new board has confirmed its commitment to increasing the value of TouchStone Software's stock. About TouchStone Software TouchStone Software Corporation is a leading developer of innovative software designed to help people use complex technologies. The company's products, which include CheckIt 98, CheckIt Diagnostic Suite, CheckIt NetOptimizer, and FastMove!, are distributed worldwide through the retail, VAR, distributor, direct and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and sales channels. TouchStone's corporate headquarters are located at 1538 Turnpike Street North Andover, MA 01845 with a branch office in Europe located at Sonnenstrasse 26B 85622 Feldkirchen, Germany. Additional information about TouchStone Software is available at www.touchstonesoftware.com. (Note: This release contains certain forward-looking statements regarding product development schedules, sales of products in the future, return to profitability, financial position and growth plans. Such statements are subject to risks and uncertainties. Actual results could vary materially from these statements or current trends. Investors should refer to TouchStone's 1998 10-KSH and first quarter 1999 10-QSB for a fuller description of risk factors.) For more information, contact Jill Abramson, S&S Public Relations at (847) 955-0700 (jilla@sspr.com), or Rich West, Touchstone Software Corporation at (978) 686-6468 (rich_west@unicore.com). |
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