Chester Holdings, Ltd. announces it is a major shareholder of Fidelity Medical, Inc.CHESTER Chester, city and district, England Chester, city (1991 pop. 80,154) and district, Cheshire, W central England, on a sandstone height above the Dee River. It is a railroad junction. Manufactures include electrical equipment, paint, and window panes. , N.J.--(BUSINESS WIRE)--March 6, 1995--Chester Holdings, Ltd. (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 :CHES), today announced that it had completed a transaction in which Fidelity Medical, Inc. (NASDAQ:FMSI FMSI Sons of Mary, Health of the Sick (religious order) FMSI Force Management System Interface ) has purchased certain of Chesters' contract rights in the United Kingdom. Chester has received 2.1 million shares of Fidelity common stock making Chester a major Fidelity shareholder. Pending Board and Regulatory approval, Chester anticipates a distribution of FMSI shares to Chester shareholders. Michael F. O'Shea, president of Chester, said "In addition to having a positive effect on Chester's balance sheet this transaction will result in a significant reduction in Chester's cash needs over the coming year. Also, over the next several weeks, Chester anticipates the signing of several major contracts which should finally enable Chester to complete the first stages of its reorganization." CONTACT: Chester Holdings Ltd. Michael O'Shea
Michael O'Shea (born September 21, 1970 in North Bay, Ontario) is a Canadian Football League linebacker. He currently plays for the Toronto Argonauts. , 908/879-9002 |
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