RITTENHOUSE CAPITAL ISSUES ANNOUNCEMENT
RITTENHOUSE CAPITAL ISSUES ANNOUNCEMENT WILMINGTON, Del., Nov. 13 /PRNewswire/ -- Rittenhouse Capital Corp.
(NASDAQ: RHUC), a Delaware corporation, today announced the finalization of the agreement and plan of reorganization between Rittenhouse and North American Environmental Corporation (North American).
Under the terms of the agreement, 75 million shares of the Rittenhouse's common stock were issued to North American Technologies, Inc. and 15 million shares were issued to James Impero, the sole shareholder of North American. Immediately following the reorganization, Rittenhouse effectuated a 10-to-1 reverse split of its authorized common stock; a reduction in its authorized common stock from 200 million par value $.001 to 20 million par value $.01 and a name change to North American Environmental Corporation. The company appointed Thom Robinson, Impero and John Parrott as directors; accepted the resignations of the present directors and officers and appointed Robinson as chief executive officer and treasurer, Impero as president and Parrott as chief operating officer and secretary. North American is a corporation which specializes in the business of researching, developing, extracting, producing, processing and marketing of environmental clean-up and remedial services primarily in the area of hydrocarbon contaminated soils. /delval/ -0- 11/13/91 /CONTACT: Cecile T. Coady of HMA Investments, 215-563-5630, for Rittenhouse Capital/ (RHUC) CO: Rittenhouse Capital Corp.; North American Environmental Corporation ST: Delaware IN: FIN SU: RCN MP-KA -- PH029 -- 4046 11/13/91 14:55 EST
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|Date:||Nov 13, 1991|
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