Continental Waste Industries signs letter of intent and moves to effect a 5-for-3 stock split.CLARK, N.J.--(BUSINESS WIRE)--Dec. 21, 1995--Continental Waste Industries, Inc. announced today that it had signed a letter of intent to acquire a transfer station and construction waste processing company in what would constitute a new market for Continental. Carlos E. Aguero, president and chief executive officer of the Company, stated that the Company believes that this new market entry has attractive follow-on expansion opportunities. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Aguero, the company to be acquired is also expected to sign a contract to take over and expand a municipal dry waste landfill under a private/public partnership agreement. The acquisition, which will be scheduled to close within approximately 60 days, would generate annual revenues of approximately $7 million. The closing is subject to completion of the Company's due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. investigation, and the execution of definitive acquisition agreements. Continental also announced today that it will hold a special meeting of its shareholders on Dec. 28, 1995. Jeffrey Levine, general counsel for the Company, stated that notice for the meeting was sent to all record holders of shares on Tuesday, Dec. 12, 1995. Levine explained that the Company is asking its shareholders to approve a stock option plan for the Company's outside directors, as well as approve an amendment to its Certificate of Incorporation certificate of incorporation n. some states issue a certificate to prove a corporation's existence upon the filing of Articles of Incorporation. In most states the Articles are sufficient proof. to authorize To empower another with the legal right to perform an action. The Constitution authorizes Congress to regulate interstate commerce. authorize v. to officially empower someone to act. (See: authority) the issuance of additional shares of the Company's common stock. According to Levine, the additional shares will likely be used to make acquisitions, as well as for other corporate purposes. He added that the Company is also seeking approval to authorize additional shares as part of a five-for-three stock split. Aguero stated that the Company's board believes that a split would likely result in the market price of the Company's stock moving into a range that is more accessible to many investors, particularly individuals, and, therefore, creating a border market for the Company's shares. Continental Waste Industries, Inc. provides integrated solid waste management services to residential, commercial and industrial customers concentrated primarily in the mid west and mid south regions of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company's common stock is included for quotation QUOTATION, practice. The allegation of some authority or case, or passage of some law, in support of a position which it is desired to establish. 2. Quotations when properly made, assist the reader, but when misplaced, they are inconvenient. on the Nasdaq National Market under the symbol "CONT CONT Continue CONT Contain CONT Continue/Continued CONT Control CONT Contents CONT Controller CONT Contractor CONT Continuous CONT Contrast CONT Container CONT Continuation Cont Contamination CONT Continent CONT Contingency CONT Contactor ." CONTACT: Jeffrey E. Levine 908/396-0018 908/396-4381 (fax) |
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