Chartwell International Inc. receives contribution from major shareholders.DENVER--(BUSINESS WIRE)--Oct. 15, 1996--Chartwell International Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CHAP) announced today that it has recently completed an agreement to receive a capital contribution from two of its major shareholders of 7 million shares of Chartwell International Inc. common stock, representing approximately twelve percent of the company's outstanding shares. Chartwell also issued a warrant (to one of the two shareholders) to purchase 4 million of the company's shares at 20 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . These securities are expected to accomplish several important objectives for the company, including use in acquisitions, employee incentives and the reduction of outstanding debt. Chartwell is a holding company specializing in sports marketing Sport marketing (or "sports marketing" in the US) (1) the specific application of marketing principles and processes to sport products (e.g., teams, leagues, events, etc.) and (2) the the marketing of non-sports products (e.g., cigarettes, beer, long-distance phone service, etc. . CONTACT: Chartwell International Inc., Denver Denver, city (1990 pop. 467,610), alt. 5,280 ft (1,609 m), state capital, coextensive with Denver co., N central Colo., on a plateau at the foot of the Front Range of the Rocky Mts., along the South Platte River where Cherry Creek meets it; inc. 1861. Richard R. Perkins, 888/393-CHAP |
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