LRG Restaurant Group to Acquire Satellite International Telecom, LC.ALTAMONTE SPRINGS Al·ta·monte Springs A city of east-central Florida, a residential suburb of Orlando. Population: 40,900. , Fla.--(BUSINESS WIRE)--Feb. 11, 1998--Gerald C. Parker, 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. of LRG LRG Large LRG Liquefied Refinery Gases LRG Local and Regional Governments LRG Long Range Aircraft LRG Looking Real Good LRG Location Reference Group LRG Local Reference Group LRG Library Resource Guide (Information Today, Inc) Restaurant Group Inc. (LRGI) (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:LRGI) announced that a letter of intent has been signed between LRGI and Satellite International Telecom, LC and its subsidiaries, detailing the acquisition of Satellite on a stock for stock basis. This transaction is subject to a standard due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and approval by the shareholders of both companies. Under the terms of the letter of intent, LRGI will exchange an undisclosed amount of its common shares for all of the outstanding stock of Satellite International and the shares exchanged will be restricted shares under Rule 144 under the Securities Act of 1933. Parker stated: "The acquisition of Satellite International, is another step that management is taking to implement our long term strategy of diversification and profitability for LRG Restaurant Group. As part of LRGI, Satellite International will provide LRGI a leadership role in the telecommunications industry." Satellite International Telecom, LC was founded in 1996 with a goal to penetrate the domestic and international market place through direct and indirect channels of distribution that will provide the best and most technologically advanced telecommunication products and service available today. These products and services will be provided to commercial and business accounts through both direct retail marketing channels and indirect distribution through a network marketing company. Two major products are utilized to penetrate and develop home-based business, including a complete system of debt management information through newsletters and at-home study courses and ancillary business building tools. The Debt-Free America Capital Builder Account Capital Builder Account (CBA) A Merrill Lynch brokerage account that allows investors to access the loan value of his or her eligible securities to buy or sell securities. Excess cash in a CBA can be invested in a money market fund or an insured money market deposit account without program and the International Wealth Builder program anchors this opportunity. John McLeod, president of Satellite International stated that, "We look forward to working together with the LRGI Management team as we move forward with our international operations which opened in Seoul, Korea and the Pacific Rim in 1997." Parker concluded his remarks, "We are also considering at this time to change the name of LRGI, to reflect the company's diversity." LRGI holds a major position in Crabby crab·by adj. crab·bi·er, crab·bi·est Informal Grouchy; ill-tempered. crab  bi·ly adv. Bill's Restaurants Inc. and plans to continue to expand in the food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. industry. CONTACT: LRGI Restaurant Group Inc. Patricia M. LoDolce, 407/860-4883 |
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