TCS RECEIVES SHAREHOLDER APPROVAL
TCS RECEIVES SHAREHOLDER APPROVAL SAN DIEGO, Aug. 17 /PRNewswire/ -- TCS Enterprises Inc.
(AMEX: TCS) announced today that its shareholders approved the purchase of 2 million shares of TCS Enterprises Inc. common stock for $2 million from Mario A. Rosas.
Additionally, the shareholders approved the warrants rights for Rosas to purchase up to an additional 1 million shares at prices ranging in a three-year period starting at $3 for 600,000 shares and $4.50 to $5 per share over the following second and third years. Rosas has majority ownership control of TCS Enterprises Inc. through this stock purchase. Tom C. Stickel, founder of TCS Enterprises Inc. stated, "We are very pleased with this transaction and excited about the future opportunities we believe this transaction will provide our shareholders and employees." -0- 8/17/92 /CONTACT: Tom C. Stickel of TCS, 619-452-8000/ (TCS) CO: TCS Enterprises Inc. ST: California IN: SU:
JB-KJ -- SD005 -- 0614 08/17/92 15:26 EDT
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|Date:||Aug 17, 1992|
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