REI FILES REGISTRATION STATEMENT
REI FILES REGISTRATION STATEMENT DALLAS, Nov. 13 /PRNewswire/ -- Recognition Equipment Incorporated
(NYSE: REC) announced it filed a registration statement today with the Securities and Exchange Commission to register the 1,725,625 shares of Recognition's common stock owned by the Prospect Group, Inc. (NASDAQ: PROS). These shares are to be distributed by Prospect to its shareholders pursuant to Prospect's plan of liquidation adopted in 1990.
These shares were issued by Recognition to Prospect on July 12, 1991, pursuant to an exchange agreement dated as of June 28, 1991, under which Prospect surrendered and cancelled $15,687,500 principal amount of 10 percent convertible senior subordinated notes issued by Recognition to Prospect in 1990. Recognition, headquartered in Dallas, and its wholly owned subsidiaries, Plexus Software, Inc., and Hybrid Systems Inc., manufacture, sell and service data capture, recognition, workflow and document imaging products for customers throughout the world. -0- 11/13/91 /CONTACT: Larry H. Lattig of Recognition Equipment, 214-579-6314/ (REC PROS) CO: Recognition Equipment Incorporated; The Prospect Group, Inc. ST: Texas IN: CPR SU: GK -- NY018 -- 3816 11/13/91 09:55 EST
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|Date:||Nov 13, 1991|
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