Country Star Restaurants Inc. registration statement declared effective; Term of warrant redemption extended for final time to April 21, 1995.LOS ANGELES--(BUSINESS WIRE)--April 5, 1995--Country Star Restaurants Inc. (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 Symbols:"CAFE" and "CAFEW") announced today that its Registration Statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the redemption of its Redeemable Warrants has been declared effective by the Securities and Exchange Commission. As a consequence, the company stated that it will extend for one final time, until April 21, 1995, the time for holders of the company's Redeemable Warrants to exercise their Redeemable Warrants or have them redeemed. All Redeemable Warrants not exercised by April 21, 1995 shall be redeemed by the company on the basis of one share of common stock for every three Redeemable Warrants. The current exercise price of the Redeemable Warrants is $4.00 per share. Robert J. Schuster, Chief Executive Officer of the Company stated that, "The Company wants to make sure that all of its Redeemable Warrant holders have a sufficient amount of time to determine whether or not they wish to exercise their Redeemable Warrants or have them redeemed." As previously disclosed by the Company, Country Star has recently signed leases in the Buckhead section of Atlanta, and on the strip in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , which is where the company intends to develop and open its next two Country Star Restaurants. The Company initially called its Redeemable Warrants on Dec. 20, 1994, at which time it lowered the exercise price of the Redeemable Warrants to $4.00 per share and changed the terms of redemption from 10 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. to one-third of one share of common stock for each share redeemed. The redemption period, which was initially due to expire on Jan. 23, 1995, has been subsequently extended to Feb. 21, 1995, March 17, 1995 and April 10, 1995 pending the effectiveness of the company's Registration Statement. The company will not issue any fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. in connection with the redemption of any Redeemable Warrants, but rather will round up or down to the nearest whole share. The Company was formed for the purpose of owning and operating country music theme oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. causal dining restaurants in various locations throughout 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. . CONTACT: Country Star Restaurants Inc. Peter R. Feinstein, 310/268-2200 |
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