Printer Friendly
The Free Library
14,507,450 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

NewMarket Technology, Inc. Releases Schedule to Dividend Stock in Independently Listed Subsidiaries at Times Square Presentation.


Company Updates Progress to Independently List Subsidiary Operations and Issue Dividends in Letter to Shareholders

DALLAS -- NewMarket Technology, Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:NMKT) updated shareholders yesterday at a presentation in Times Square, 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
 on plans to independently list subsidiary operations and subsequently issue subsidiary stock to NewMarket shareholders in dividend distributions. 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.  Philip Verges released a letter to shareholders today detailing the plan announced at yesterday's presentation. The letter is included in its entirety below.

Dear Shareholders:

NewMarket has recently listed its subsidiary operation in China and the listings of our Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies.  and Wireless Broadband High-speed wireless transmission of data. What is "high" speed is always a changing number. Wireless systems are typically slower than land-based, wireline networks. In the past, wireless broadband started at 250 Kbps, whereas land-based broadband was generally considered to start at T1  subsidiary operations are imminent. The purpose of this week's presentations in Boca Raton Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Atlanta and New York was to provide shareholders with detailed information on NewMarket's emerging technology market strategy. Specifically, we concentrated on how the public listing of subsidiary operations is the central aspect of that strategy.

The snow and ice that blanketed much of the country this week handicapped the presentation schedule, but did not stop us. I had not originally planned to personally present in New York, but after being stranded in New York by weather a day earlier and the presentation team not being able to make it up to New York from Atlanta, I was the last man standing. Our CFO See Chief Financial Officer. , Philip Rauch resides in New York and joined me for the presentation.

NewMarket is in the business of introducing new technologies to new markets. We are a technology incubator. We have integrated the benefits of the micro cap public market into our business model. As one of our portfolio emerging technology initiatives develops momentum, we look to list publicly that subsidiary's operations independent of NewMarket. The independent listing provides the portfolio company with a dedicated marketable security marketable security

A security that may be resold by one investor to another. Most securities are marketable; they develop secondary markets for trading. Also called negotiable security.
 to support further capitalization and continued growth. The independent listing also enables the opportunity for NewMarket to provide its shareholders with a direct return on investment from NewMarket's subsidiary operations. For shareholders to realize the direct return on investment, NewMarket will issue subsidiary stock to shareholders in dividend distributions.

NewMarket launched its technology incubation plan in 2002. In the fourth quarter of 2006, NewMarket China, Inc. (OTCBB:NMCH NMCH National Museum of Chinese History ) became the first independent publicly listed subsidiary. NewMarket will complete transactions with Paragon Financial Corp. (OTC OTC

See: Over-the-counter.


OTC

See over-the-counter market (OTC).
:PGNF) and Diamond I, Inc. (OTCBB:DMOI) to independently list NewMarket's Latin American and Wireless Broadband operations momentarily. The salient definitive terms of each transaction have been agreed upon and the final documents are complete subject only to final legal review.

We are eager to fully demonstrate the micro cap public market specific aspect of our emerging technology incubation strategy. That means both the successful public listing of our first subsidiaries as well as completing the first dividend distributions. It is difficult to schedule specific dates when independent listings and dividends will be complete because many steps of the process rely on parties outside of the Company. For instance, the Paragon and Diamond transactions are all but complete save the work of a final legal review. Issuing stock to shareholders will require further legal work to draft the necessary filings to affect the dividend distribution of subsidiary stock. Additionally, dividend distributions will ultimately require SEC review.

The schedule below provides a list of the subsidiaries to be independently listed and the event that will trigger the dividend distribution. The third column in the schedule provides the estimated time to complete the dividend distribution following the trigger event. We have intentionally tried to buffer the estimates with extra time to accommodate for unanticipated hurdles in the process.

The schedule is not in any order to indicate the sequential order of dividends nor the sequential order of public listings. We do anticipate that the next independent public listings will be NewMarket Latin America and NewMarket Broadband. The dividend of both NewMarket Latin America and NewMarket Broadband will be triggered by the subsequent reorganization of additional NewMarket assets into the respective companies. After the initial transaction resulting in the public listing of the Latin America and Broadband operations is complete, NewMarket will reorganize additional assets into each listed subsidiary. The reorganization will result in NewMarket garnering additional shares of each subsidiary which it will, in turn, register and issue to NewMarket shareholders. We are allowing 180 days to complete the registration and dividend process.

NewMarket owns majority interest in NewMarket China through preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders.

Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate.
 with majority voting Majority voting

Voting system under which corporate shareholders vote for each director separately. Related: Cumulative voting.


majority voting 
 rights. Some time in the future the preferred stock will be converted into common stock. The preferred stock includes dilution protection Dilution protection

Standard provision that changes the conversion ratio in the case of a stock dividend or extraordinary distribution to avoid dilution of a convertible bondholder's potential equity position.
 meaning that as NewMarket China issues more common stock to raise capital and acquire additional operating assets Operating Assets

Another term for working capital.
, NewMarket shareholders will not be affected. NewMarket will receive additional common stock in the future conversion from preferred to common to ensure NewMarket owns the same majority interest that it owns today. Due to the nature of NewMarket preferred stock ownership, the specifics of a dividend distribution are yet to be determined.

Three additional public listings of NewMarket subsidiaries are in process. Stock of all three subsidiaries will also be issued in shareholder dividends to NewMarket shareholders. We will continue to release future updates on the progress of these three additional subsidiary public listings.
[TABLE OMITTED]


Thank you to everyone that came to our presentations this week, particularly those that weathered the elements in New York. We are very committed to getting out as frequently as we can to communicate progress and updates to our shareholders and the investment world. In those presentations we receive very valuable feedback which helps us improve our future communications and, even from time to time, our overall operations.

We are enthusiastic about this next chapter in NewMarket's development and hope to see those that could not attend this week's presentations at one of our future presentations.

Thank you,

Philip Verges

CEO and Chairman

NewMarket Technology, Inc.

To be added to NewMarket's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@newmarkettechnology.com.

About NewMarket Technology, Inc. (www.newmarkettechnology.com)

NewMarket helps clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions to include Microsoft (Nasdaq:MSFT MSFT Microsoft (stock symbol)
MSFT Movimento Sociale Fiamma Tricolore (Italy)
MSFT Multi-Stage Fitness Test
MSFT Master of Science in Family Therapy
MSFT Macalester Students for Fair Trade
), Cisco Systems (Nasdaq:CSCO CSCO Cisco Systems Incorporated (stock symbol)
CSCO Chief Supply Chain Officer
), SAP (NYSE NYSE

See: New York Stock Exchange
:SAP), Siebel (Nasdaq:ORCL ORCL Oracle (stock symbol) ) and Sun Microsystems (Nasdaq:SUNW SUNW Sun Microsystems, Inc (former stock symbol; now JAVA)
SUNW Stanford University Network Workstation (Sun Microsystems, Inc) 
). Concurrently, NewMarket continuously seeks to acquire undiscovered emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions. NewMarket delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore. NewMarket maximizes shareholder return on investment by independent listing of consolidated regional and emerging technology subsidiaries in order to issue subsidiary stock in shareholder dividends. NewMarket ranked Number Five on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001-2005. The Company grew from less than $1 million in revenue in 2001 to over $50 million in profitable revenue in 2005.

"SAFE HARBOR Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  OF 1995

This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Feb 16, 2007
Words:1302
Previous Article:Norman Schwarzkopf's World Business Review TV Series Is Airing, February 21st, 2007 (PT) on CNBC (As Paid Programming) And February 20th, 2007 Bravo!...
Next Article:The Portfolio Analysis - Colour Manufacturers & Suppliers Is A Comprehensive Evaluation Of The UK Market.(Industry overview)
Topics:



Related Articles
NewMarket Technology, Inc. Releases Progress Update on $50 M in Revenue Anticipated in 2005 Report, Plans for $500 M and Future of Shareholder...
NewMarket Technology, Inc. Announces Exit from Merger Negotiations with NASDAQ Listed Action Products and Alternative Plans for an Upgraded Listing.
NewMarket Technology, Inc. Signs Agreement to List $20 Million Latin America Operation Advancing Strategy to Issue Subsidiary Stock Dividends to...
NewMarket Technology, Inc. Announces Dividend in Conjunction with Letter of Intent to Acquire Majority Interest in Silicon Aquarius, Inc. a Telecom...
NewMarket Technology, Inc. to Issue One Dividend for Every One Share of Stock with Closing of SAI Acquisition and Reorganization into Claire Coast...
NewMarket Technology, Inc. Releases Webcast of Annual Town Hall Meeting Announcing $120 Million 2007 Revenue Forecast and First Quarter Dividend to...
Wall Street Transcript's "Growth Stocks" Issue Includes Interview with NewMarket Technology, Inc. CEO Philip Verges.
NewMarket Technology, Inc. Announces Times Square Presentation on Dividends from Independent Listings of Subsidiaries with $80 Million in Forecasted...
NewMarket Technology, Inc. Releases Update on $120 Million 2007 Revenue Forecast, $500 Million 2010 Revenue Goal and Dividend Distributions.
NewMarket Technology, Inc. to Publicly List VoIP Subsidiary with Estimated $10 Million in Annual Revenue and Issue Dividend to NewMarket Shareholders...

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles