Charys' Chairman and CEO Billy Ray Purchases 1,750,000 Shares of Common Stock.ATLANTA -- Charys Holding Company, Inc. ("Charys" or the "Company") (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : CHYS) announced that on June 18, 2007, Billy V. Ray, Jr., Chairman 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. , acquired 1,750,000 shares of the Company's common stock pursuant to the Company's Employee Stock Incentive Plan for the Year 2006. The shares were made available under an Amended and Restated Stock Purchase Agreement between the Company and Mr. Ray, which provided Mr. Ray the right to acquire 2,237,222 shares of CHYS common stock at an exercise price of $0.40 per share. As a result of the purchase, the Company received $700,000 in gross proceeds. The 2,237,222 shares are subject to an existing post-offering lock up agreement prohibiting their sale by Mr. Ray until August 15, 2007. The purchase, disclosed in a Form 4 filed with the SEC on June 21, 2007, brings the total number of shares beneficially owned by Mr. Ray to 3,948,350 plus 1,000,000 shares of Series A 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 the right to purchase an additional 487,222 shares of common stock under the Amended and Restated Stock Purchase Agreement dated May 25, 2004. Insiders file Form 4 with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction. Billy Ray, the Company's Chairman and CEO commented, "I am very excited about Charys' opportunity across all of our operations, in particular the restoration and reconstruction business as we enter what is expected to be a very busy Hurricane season Hurricane season refers to a period in a year when hurricanes usually form. For more information see: Tropical cyclone#Times of formation. For a lists of past seasons, see:
About Charys Holding Company, Inc. Headquartered in Atlanta, Georgia, Charys is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. providing infrastructure services in two primary markets. In the restoration and reconstruction markets, Charys services include emergency planning and coordination, response to catastrophic losses, reconstruction and restoration and environmental restoration. In the wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. and data infrastructure markets, Charys provides an array of services including engineering, program management, construction, installation and maintenance, tower services, radio and advanced technology implementation and integration services to large service providers and other business enterprises. For more information, visit www.charys.com This press release contains 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. . These statements are based upon Charys' current expectations and speak only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . Actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including uncertainties as to the nature of the industry, including changing customer demand, the impact of competitive products and pricing, dependence on existing management and general economic conditions. Charys' Annual Report on Form 10-KSB, recent and forthcoming Quarterly Reports on Form 10-QSB, recent Current Reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. and other SEC filings discuss some of the important risk factors that may affect Charys' business, results of operations and financial condition. Management undertakes no obligation to revise or update publicly any forward-looking statements for any reason. |
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