MARK CORRECTIONAL SYSTEMS AND SHOWCASE COSMETICS COMPLETE MERGER; MERGED COMPANY TO TRADE ON NASDAQ AND BE RENAMED 'MARK SOLUTIONS, INC.'
MAYWOOD, N.J., Nov. 11 /PRNewswire/ -- Mark Correctional Systems Inc. ("Mark") announced today that it has received approval from its shareholders for its acquisition by Showcase Cosmetics, Inc. (NASDAQ: LIPSA), and that Showcase shareholders have also approved the reorganization. Under the terms of the reorganization, the merged entity will be renamed Mark Solutions, Inc., and trade on the NASDAQ market under the symbol "MCSI." Mark Solutions will act as a holding company for its Mark Correctional Systems division and MarkCare Medical Systems and Bar-Lor Cosmetics subsidiaries. Carl Coppola will serve as the chairman and president of Mark Solutions, Inc., as Alan Steiner, chairman and president of Showcase Cosmetics, has resigned his positions to become president of the Bar-Lor Cosmetics subsidiary. Mark Correctional Systems offers products meeting the needs of the health care and correctional industries. Its products include modular steel jail cells, containment rooms for infectious disease control and a filmless x-ray and computer-based medical record management system. Bar-Lor Cosmetics is engaged in the distribution and sale of both proprietary and private label cosmetics. -0- 11/11/93 /CONTACT: Davis Weinstock II or Michael Rietbrock of Clark & Weinstock Inc., 212-953-2550/ (LIPSA)
CO: Mark Correctional Systems Inc.; Showcase Cosmetics, Inc. ST: New Jersey IN: HOU HEA SU: TNM
GK-TW -- NY016 -- 3108 11/11/93 09:26 EST
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|Date:||Nov 11, 1993|
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