Chester Holdings LTD., Announces Restructuring.FLANDERS, N.J.--(BUSINESS WIRE)--April, 26, 1999-- Chester Holdings Ltd. (Electronic Bulletin Board symbol CHES), inactive in·ac·tive adj. 1. Not active or tending to be active. 2. a. Not functioning or operating; out of use: inactive machinery. b. since 1995 announced that it has begun the process of restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). its business organization and expects to resume operations as a holding company in the near future. The Company's only operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Fidelity Medical, Inc., was sold to Medical Laser Technologies, Inc. in 1995 and the management of the Company devoted their efforts to operating that business. In April of 1998 control of Fidelity Medical Inc. was transferred to another group of investors and the Company's management decided to refocus Verb 1. refocus - focus once again; The physicist refocused the light beam" focus - cause to converge on or toward a central point; "Focus the light on this image" 2. their efforts and intends to resume the Company's operations by the third quarter of 1999. As of this date the Company has no immediate prospects and is unable to assure stockholders that its efforts to associate with an operating business will be successful. |
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