DATEQ INFORMATION NETWORK, INC., RECEIPT OF PRICE IN CONNECTION WITH POSSIBLE BUSINESS COMBINATION.NORCROSS, Ga.--(BUSINESS WIRE)--March 28, 1995--DATEQ Information Network, 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 :DATQ) announced on March 2, 1995 that it had entered into a letter of intent to negotiate with a party regarding a proposed business combination in a form pursuant to which its shareholders would be entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to receive cash for their shares. On March 27, 1995, the Company was notified that the other party would offer to pay the Company's shareholders a price of $6.00 per share, subject to certain formula adjustments and contingency contingency n. an event that might not occur. reserves. The Company currently anticipates that, in light of such adjustments and reserves, an initial payment will be made at closing of approximately $4.75 to $5.00 per share and that additional payments aggregating up to $1.00 to $1.25 per share will be made over a three-year period following the closing. Negotiations regarding a definitive agreement, which will set forth the terms of and conditions to the proposed business combination, are currently being conducted and will expire expire /ex·pire/ (ek-spi´er) 1. to exhale. 2. to die. ex·pire v. 1. To breathe one's last breath; die. 2. To exhale. on the earlier of the signing of such agreement or April 7, 1995, unless such period is extended by agreement of the parties. Depending on the form of the transaction, the Company currently anticipates that the closing would occur no earlier than May 31, 1995 and no later than June 30, 1995. There can be no assurance that i) a definitive agreement can be agreed to, ii) the Board of Directors of the Company, or of the other party, would recommend approval of a proposed definitive agreement, or, iii) if a definitive agreement is entered into, the conditions to consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. of the proposed business combination can be satisfied. Headquartered in Norcross, Georgia Norcross is a city in Gwinnett County, Georgia, United States. The city had a population of 8,410 in 2000. Census Estimates for 2005 show a population of 9,887. History Norcross was founded in 1866 by John Thrasher. , DATEQ Information Network, Inc. provides information for use in support of risk management activities for vehicle rental and automobile insurance companies. Through its centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. information network, DATEQ provides motor vehicle reports, licensed drivers' reports, loss history reports and registered vehicle reports on applicants. CONTACT: DATEQ Information Network, Inc. Richard Hunter Cross, III, 404/446-8282 ext. 103 |
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