Charys Holding Company Announces Annual Shareholder Meeting and Call-In Number.
"The Board, management and I look forward to the opportunity to update our shareholders on the progress our organization has made since our last shareholder meeting," said Billy Ray, Chairman and CEO.
Some of the milestones achieved in the first year of implementing the Charys strategy have been the acquisitions of Personnel Resources of Georgia and CCI Telecom, Inc. ("CCI"); recovering from a negative shareholder surplus of $2.2 million to a positive surplus of $712 thousand at fiscal year-end and further as of July 31, 2005 to $2.1 million; implementation of the Build-to-Suit cell tower strategy through alliances with CCI, Red Elm and the newly formed wholly-owned subsidiary AYIN; establishing a new credit facility of $5 million; and achieving profitability. Our improving fundamentals are also evidenced by our share price, which over the past year has more than quintupled from $0.25 per share to a recent price of $1.15 per share.
"Through the successes that Charys and its subsidiaries have experienced in the past year, we have been able to gain market and industry recognition, which will aid us in the next stages of implementation of our business plan," said Ray Smith, Chief Financial Officer, Charys.
About Charys Holding Company, Inc.
Headquartered in Atlanta, Georgia, Charys Holding Company, Inc. (OTC BB:CHYS.OB) is a publicly traded company focusing on the fragmented and underserved segment referred to as the Integrated Infrastructure Services segment. This segment varies widely in scope, but is fundamentally focused on upgrading the underpinning, infrastructure, and back office operations of the telecommunication, cable, electric, and Internet industries serving consumers, businesses and government entities. Charys' principal strategy is to acquire, through mergers and acquisitions, companies that support this underserved segment. For more information about Charys visit www.charys.com.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Except for financial information contained in this press release, the matters discussed may consist of forward-looking statements under the Private Securities Litigation Reform Act of 1995. The accuracy of the forward-looking statements, including statements regarding future events or the future financial performance of the company, is necessarily subject to a number of risks and other factors which could cause the actual results to differ materially from those contained in the forward-looking statements. Among such factors including those discussed above are: the company's ability to access capital markets on terms acceptable to it; downturns in economic conditions generally and in the telecommunications and data communications markets; the company's ability to continue to develop its product offerings as well as to obtain market acceptance of, and demand for, these products; the company's ability to attract and retain key managerial and technical personnel; competition and competitive pricing pressures; the company's ability to invest in and integrate new businesses; the company's ability to protect its intellectual property rights; the company's ability to successfully develop and commercialize its technology; and the risk factors listed from time to time in documents on file with the SEC. When used in this release, the words "believes," "estimates," "plans," "expects," "should," "will," "may," "might," "anticipates" or similar expressions as they relate to the company, or its management, are intended to identify forward-looking statements. The company, from time to time, becomes aware of rumors concerning the company or its business. As a matter of policy, the company does not comment on rumors. Investors are cautioned that in this age of instant communication and Internet access, it may be important to avoid relying on rumors and unsubstantiated information regarding the company. The company complies with Federal and State law applicable to disclosure of information concerning the company. Investors may be at significant risk in relying on unsubstantiated information from other sources.
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|Date:||Sep 29, 2005|
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