SHAREHOLDERS APPROVE MERGER OF STANDARD LOGIC AND APPOINT INC.
ANAHEIM, Calif., April 5 /PRNewswire/ -- Standard Logic Inc. (NASDAQ: STDL) and Appoint Inc. today jointly announced that on March 31, 1993, at the annual meeting of shareholders of Standard Logic Inc., the proposed merger of Standard Logic's subsidiary with Appoint Inc. was approved by Standard Logic's shareholders. The proposed merger was approved by Appoint's shareholders at a meeting on March 25, 1993. The companies expect the merger to be consummated as soon as certain filings with the California Secretary and the California Franchise Tax Board are completed. Standard Logic Inc. will be renamed Appoint Technologies Inc. and will trade on NASDAQ under the new symbol, APNT when the merger is completed. Upon consummation of the merger, Joseph C. Picken will assume the position of president and chief executive officer of the combined company, Wes Baumgardner will continue as chairman of the board, and Jack Barrett, formerly the chairman and president of Appoint Inc., will become vice chairman and secretary. In his remarks, Baumgardner expressed confidence in the new management team and their focus on growth, profitability and shareholder value. -0- 4/5/93 /CONTACT: Wes Baumgardner, CEO of Standard Logic, 714-632-9292; or Shannon T. Squyres of Corporate Relations Group (investors), 714-955-1860, for Standard Logic/ (STDL)
CO: Standard Logic Inc.; Appoint Inc.; Appoint Technologies Inc. ST: California IN: SU: TNM
BP-EH -- LA011 -- 3000 04/05/93 11:41 EDT
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|Date:||Apr 5, 1993|
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