Electronic Retailing Systems International, Inc. Commences Cash Tender Offer for Senior Discount Notes.NORWALK, Conn.--(BUSINESS WIRE)--Nov. 17, 1999-- Electronic Retailing Systems International, Inc. ("ERS ERS, n.pr See extended rotated side-bent. ") (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ERSI ERSI Environment Remote Sensing Institute ) today announced the commencement of a cash tender offer to purchase all of its outstanding 13 1/4% Senior Discount Notes due February 1, 2004 (the "Notes"). The terms and conditions of the tender offer are set forth in an Offer to Purchase and related Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. . The tender offer commences on November 17, 1999, and will expire at 12:00 Midnight, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on December 15, 1999, unless extended. For holders who tender the Notes prior to 12:00 Midnight, New York City time, on December 15, 1999 (unless extended), the tender offer purchase price will be $155 per $1,000 principal amount at maturity of the Notes. Jefferies & Company, Inc. is acting as a dealer manager in connection with the tender offer for the Notes. The depositary for the tender offer is 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. Trust Company of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Copies of the Offer to Purchase and additional information concerning the terms of the tender offer may be obtained by contacting Victor Polizzotto at Jefferies & Company, Inc. at (800) 421-0160 x 7160 (Toll Free) or (212) 336-7160 (Collect). ERS is a leading developer and supplier of electronic shelf labeling systems designed to improve retailer profitability. The ERS ShelfNet(R) system is designed to assist retailers in cost savings and pricing accuracy by using a wireless network to link a store's central computer both to its check-out scanner and to the ESLs that display pricing information at the shelf edge. With ShelfNet, this pricing information is updated automatically on the ESLs when prices in the point-of-sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) scanner are changed. This provides price integrity between the shelf edge and the POS scanners. ShelfNet uses spread spectrum RF technology, which is the most widely used method of wireless communication in retail today. In addition, ShelfNet uses a suite of patented software applications designed to communicate merchandising, inventory and other information to and from store personnel in the aisle. These applications are designed to provide value-added benefits to retailers in the areas of shelf-edge merchandising, replenishment control, strategic pricing and shelf set compliance. This press release contains forward-looking statements that involve risks and uncertainties. ERS' actual results may vary from those anticipated due to a number of factors, including, without limitation, the timely availability and acceptance of new products, the rate of development of the emerging market for electronic shelf label systems, the impact of competitive products and pricing, the management of growth, and other factors set forth in reports and other documents filed by ERS with the Securities and Exchange Commission from time to time. |
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