Continental Capital & Equity Corporation Announces Management Buyout.Business Editors LONGWOOD, Fla.--(BUSINESS WIRE)--July 14, 2000 Continental Capital & Equity Corporation, a nationally recognized, full service financial public relations Financial public relations Public relations division of a company charged with cultivating positive investor relations and proper disclosure information. firm, today announced that the employees of the Company, led by the Executive Management Committee, are in the final stages of a planned buyout Buyout The purchase of a company or a controlling interest of a corporation's shares. Notes: A leveraged buyout is accomplished with borrowed money or by issuing more stock. of Mr. John R. Manion, Founder and President of Continental Capital. In consideration of the buyout, Mr. Manion announced his resignation from the Company effective immediately. Employees of Continental are expected to complete a buyout of Mr. Manion prior to the end of July. Nearly 100% of Continental's personnel have signed letters of intent to purchase shares of the Company. In a letter to Continental Capital's Executive Management Committee, Mr. Manion stated, "Since opening our doors in 1992, I have sought to distinguish Continental Capital as an industry innovator and as an organization responsible for redefining how investor relations Investor relations The process by which the corporation communicates with its investors. is delivered. I believe that mission has been accomplished. Continental is a dynamic, results-oriented enterprise which has earned the respect and acknowledgement of our clients, our industry peers, Wall Street and the financial community, in general." Mr. Manion also stated, "Continental Capital is now uniquely positioned to leverage its fundamental successes into new and exciting growth opportunities that our Management Committee is more suited to oversee. As such, I am stepping aside so that the Continental team can aggressively steer the Company into a new era of corporate evolution." For the past 19 months and in contemplation Contemplation Compleat Angler, The Izaak Walton’s classic treatise on the Contemplative Man’s Recreation. [Br. Lit.: The Compleat Angler] Thinker, The sculpture by Rodin, depicting contemplative man. of the planned buyout, Continental Capital has been managed by its Executive Management Committee, led by Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Dodi B. (Zirkle) Handy, Chief Financial Officer and General Manager James R. Schnorf, and Vice Presidents Scott Gibson and Jimmy Holton. Audited financials of the Company reflect that under the reign of the Executive Management Committee, Continental Capital achieved 1999 revenue of nearly $9.5 million, representing a 40% increase over revenues generated in 1998. Profits increased nearly 50% to over $3 million. Currently, Continental Capital is on track to achieve similar growth in revenues and profitability in 2000. Dodi Handy noted, "John Manion John Lawrence Manion, O.C., B.A. (born 1931) is a retired Canadian civil servant. Born in Almonte, Ontario, he received a Bachelor of Arts degree from the University of Ottawa in 1953. has been a mentor to many of us. We will miss his contributions, not just to our business, but to our lives. His proven leadership and corporate vision have served as the cornerstones on which Continental Capital has been built and upon which all future successes will be founded. Moving forward, we intend to initiate an aggressive growth strategy focused on strategic joint venture partners and prospective merger/acquisition candidates. Our goal is to distinguish Continental Capital as a global entity responsible for establishing the standard by which all financial public relations companies are measured." About Continental Capital & Equity Corporation Continental Capital & Equity Corporation is a leading, nationally recognized, financial public relations firm that specializes in increasing mass market awareness of its clients among individual investors, retail stockbrokers, institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. , analysts, the financial media and other investment professionals. Through its publication, Inside Wall Street, and its web site, www.insidewallstreet.com, Continental concentrates on spotlighting undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. , undiscovered or turnaround situations operating in emerging, high-growth industries. Since its founding in 1992, Continental has represented hundreds of public companies headquartered on six continents Six Continents is a large retail PLC in UK which split into Six Continents Retail known as Mitchells and Butlers plc. The hotels and soft drinks business of Six Continents PLC is now known as InterContinental Hotels Group PLC. . Current clients include, but are not limited to, Ashton Technology Group, Inc.; NetCurrents, Inc.; Ursus Telecom Corporation; BitWise Dealing with bits rather than larger structures such as a byte. For example, each of the eight bits in a byte can be used as an individual flag to signal yes/no, on/off (1 or 0) about some condition. The Boolean operators AND, OR and NOT also deal with individual bits rather than bytes. Designs, Inc.; THCG, Inc.; New Visual Entertainments, Inc.; IFS International, Inc.; and Viragen, Inc. |
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