Videocall Announces Major International London Flagship Location.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 7, 1998--Videocall International Corporation, which has entered into a merger agreement with Legacy Software, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :LGCY - news), announced today the recent signing of a Letter of Intent with Flairline Properties Limited for prime retail shop premises located at 26 Baker Street, London, in the heart of the west end district. The premises are located on the main road, facing Marks & Spencer, and minutes from Selfridges, Madame Tussaud's, the Planetarium planetarium, optical device used to project a representation of the heavens onto a domed ceiling; the term also designates the building that houses such a device. A modern planetarium consists of as many as 150 motor-driven projectors mounted on an axis. , Marble Arch Marble Arch is a white Carrara marble monument near Speakers' Corner in Hyde Park, at the western end of Oxford Street in London, England, near the tube station of the same name. , and other famous London landmarks. This prime retail location will serve as the company's main international flagship store in London England. It is contemplated that this significant site will open the gateway for the Company's planned international development of multiple videocalling locations into both the European continent as well as the Middle East and Africa. Renovations to the location are currently underway. The London flagship store is planned to be ready for videocalling operations in late January 1999. Commenting on the transaction, Eugene A. Rosov, the Company's President and 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. , just returned from a European trip, said, "All of us at Videocall are excited to make London England the pivotal base for our international European, Middle East and African market expansion. The European market generally is prime in our thinking. With the development of this strategic retail location, the door is now open for the rapid evolution of our operations in franchising and partnership development." Mr. Rosov went on to further state, " With London under our belt, we expect to move out and open additional corporate videocall locations in other European capital The term European capital may refer to:
Upon shareholder approval, Videocall International Corporation will become a wholly-owned subsidiary of Legacy Software, Inc. Videocall International Corporation and Legacy Software, Inc., maintain offices in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. CA and Cambridge MA with worldwide headquarters in Cambridge MA. On November 23, 1998 the Company had issued a press release concerning the acquisition of property in Toronto, Ontario Canada. The press release indicated that the value of the transaction was $3.9 million. The transaction value was incorrectly stated. The actual value of the transaction is $2.9 million. Videocall regrets the typographical error typographical error - (typo) An error while inputting text via keyboard, made despite the fact that the user knows exactly what to type in. This usually results from the operator's inexperience at keyboarding, rushing, not paying attention, or carelessness. Compare: mouso, thinko. . Except for historical information contained herein, the statements in this release (including without limitation, statements indicating that the company "expects," "estimates," "anticipates," or "believes" and all other statements concerning future financial results, product offerings or other events that have not yet occurred) are forward-looking statements that are made pursuant to the 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. provisions of 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, Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Additional information on these and other factors are included in the company's Form 10K of the Fiscal Year ended Dec. 31, 1997, as filed with the Securities and Exchange Commission. |
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