Infogrames Entertainment S.A. Announces Complete Redemption of Nexgen Financing.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 -- Infogrames Entertainment S.A. ("IESA IESA Infogrames Entertainment SA IESA International Executive Security Association IESA Illinois Elementary Sports Association IESA Integrated Equiangular Spiral Antenna "), the majority shareholder of Atari, Inc. (Nasdaq: ATAR), today announced it has redeemed the remaining $2.1 million of the $28.2 million Nexgen financing raised through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. California US Holdings, Inc. ("CUSH Cush (kŭsh, k  sh).1 Asian nation, perhaps the same as one of similar name in E Mesopotamia. Gen. 10.8; 1 Chron. 1.10. "). On June 17, 2004, CUSH received $28.2 million from Nexgen Capital Limited and, in exchange, transferred 10.6 million Atari shares, with a one-year maturity date (the "Transaction"). The remaining amount due by CUSH to Nexgen, $2.1 million, was fully redeemed through the sale of 827,982 shares of Atari, Inc. by Nexgen. The CUSH payment obligations to Nexgen have been completely extinguished ex·tin·guish tr.v. ex·tin·guished, ex·tin·guish·ing, ex·tin·guish·es 1. To put out (a fire, for example); quench. 2. To put an end to (hopes, for example); destroy. See Synonyms at abolish. 3. . Therefore, the Transaction has been terminated. Upon the subsequent transfer of approximately 3.1 million shares of Atari, Inc. to CUSH from Nexgen, the underlying number of shares of Atari, Inc. held by Nexgen has now been reduced to zero and IESA holds approximately 60% of the outstanding shares of Atari, Inc. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion