DRAM manufacturer Lanstar Semiconductor to merge with Kazmir Kliffs.NEW YORK--(BUSINESS WIRE)--December 6, 1995--Lanstar Semiconductor Corporation of Arlington, Texas, a manufacturer of Dynamic Random Access Memory Dynamic random access memory (DRAM) is a type of random access memory that stores each bit of data in a separate capacitor within an integrated circuit. Since real capacitors leak charge, the information eventually fades unless the capacitor charge is refreshed periodically. semiconductors and recently licensed by Texas Instruments Incorporated, announced today that it had completed an agreement to exchange its closely held shares Closely Held Shares A term referring to shares held by individuals closely related to a company. Notes: Keep in mind lots of small-caps are closely held. Since a large portion of the management's potential for wealth is tied to the stock, you can bet they'll be working with the shares of a publicly traded corporation. Effective today, the majority shareholders of Kazmir Kliffs, Inc., an investment group founded in 1988, has agreed to acquire 100% of the outstanding shares of Lanstar Semiconductor Corporation. Kazmir shareholders approved the change of the corporate name to "Lanstar Semiconductor Inc." and has filed to change its present trading symbol to "LSEM LSEM Legal Services of Eastern Missouri LSEM Legal Services of Eastern Michigan " and continue the trading of its securities on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). Electronic Bulletin Board. "Lanstar has been moving rapidly toward the commencement of fabrication of its proprietary Dynamic Random Access Memory (DRAM) semiconductor devices," said Lanstar's Maxie Smith, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We could no longer remain as a closely held corporation Noun 1. closely held corporation - stock is publicly traded but most is held by a few shareholders who have no plans to sell corp, corporation - a business firm whose articles of incorporation have been approved in some state since we plan to fabricate our DRAM semiconductor devices through several facilities located in the United States, the Far East and in Europe and market our products on an international scale," said Smith. The majority of the shareholders of Kazmir Kliffs, Inc. approved the appointment of Smith and Steve Porter as directors of Lanstar Semiconductor Inc. with Smith being appointed as the company's president, chief executive officer and chairman. CONTACT: Civilization Communications Inc. Bruce Barry 516/791-7555 (tel) 516/791-7404 (fax) |
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