Consolidated Technology Group Ltd. Announces Sale of Shares in Netsmart Technologies, Inc.NEW YORK--(BUSINESS WIRE)--June 7, 1999-- Consolidated Technology Group Ltd. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:COTG), announced today that it completed a private sale of 206,874 shares of the common stock of Netsmart Technologies, Inc. (Nasdaq:NTST NTST Not Transaction-Safe Tables ) owned by it to a group of purchasers which included two of Netsmart's directors. The sale was made pursuant to the terms of a previously announced agreement dated March 25, 1999 between Consolidated and such purchasers, pursuant to which Consolidated sold 585,750 shares of such common stock in April 1999. As a result of such sale transactions, Consolidated, through its 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. , now owns 300,000 shares of Netsmart's common stock which represents approximately 10% of Netsmart's outstanding common stock. Any statements contained in this release that are not statements or descriptions of historical facts may be "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. " as that term is defined under the Federal securities laws. Forward-looking statements are subject to risks, uncertainties and other factors, including, but not limited to, those described in Netsmart's public filings with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion