Printer Friendly

NATURAL CHILD CARE, INC. TERMINATES COMPLESPORTS TRANSACTION, MODIFIES UNDERSTANDING WITH WINNERS ALL

 ARMONK, N.Y., July 13 /PRNewswire/ -- Natural Child Care, Inc. (NASDAQ: NACC, NACCU, NACCW) today announced that it had terminated its letter of intent and discussions to exchange stock of its wholly owned subsidiary, Family Fun, Inc., for the stock of Complesports, Inc. In lieu thereof, the company has modified its understanding with Winners All to allow the company to issue to common shareholders an additional .2 (two-tenths) of a share of common stock for each one share of common stock held and to reserve for future issuance a similar number of such shares to satisfy anti-dilution provisions of other outstanding securities. Shares to be issued in respect of outstanding common stock are to be issued immediately prior to the consummation of the previously announced Winners All transaction. As a result, the company will retain the assets presently held in Family Fun. It is now anticipated that actions necessary to consummate the Winners All transaction will be presented to Natural Child Care stockholders for their consideration in the near future. Winners All recently acquired the worldwide rights, outside of the United States, to the U C'N WIN point-of-purchase full color, interactive, video marketing and promotion system for in-store marketing and advertising of merchandise and has begun marketing this product in various countries.
 In announcing the termination and modification, Jules Zimmerman, chairman of Natural Child Care, stated, "The Complesports transaction became difficult to complete for a variety of reasons and it was determined by both parties that it would be best to terminate the proposed transaction. However, Winners All is making significant progress in bringing the product to worldwide markets and the board determined that this modification to its originally announced plans for a two-pronged restructuring is now in the best interests of the company's shareholders."
 -0- 7/13/93
 /CONTACT: Jules Zimmerman, chairman of Natural Child Care, 212-355-0333/
 (NACC)


CO: Natural Child Care, Inc.; Complesports, Inc.; Winners All ST: New York IN: SU:

GK-MP -- NY058 -- 0990 07/13/93 15:30 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 13, 1993
Words:332
Previous Article:BALLISTIVET NAMES NEW VICE PRESIDENT, MANUFACTURING
Next Article:ISRAMCO REPORTS EXTENSION OF OIL EXPLORATION LICENSE IN ISRAEL


Related Articles
NATURAL CHILD CARE, INC. ANNOUNCES RESIGNATIONS OF CHAIRMAN OF THE BOARD AND PRESIDENT; APPOINTMENT OF ALEX ADLER AS ACTING PRESIDENT
NATURAL CHILD CARE EXECUTES TWO LETTERS OF INTENT
NATURAL CHILD CARE ANNOUNCES SALE OF PRODUCT LINE AND ASSETS TO INTERNATIONAL VITAMIN CORPORATION
NATURAL CHILD CARE ANNOUNCES AGREEMENT WITH WINNERS ALL LIMITED
NATURAL CHILD CARE SIGNS DEFINITIVE AGREEMENT
NATURAL CHILD CARE, INC. CONTINUES TO BE LISTED ON NASDAQ SMALLCAP MARKET
NATURAL CHILD CARE ANNOUNCES RECEIPT OF NON-REFUNDABLE DEPOSIT FROM WINNERS ALL (ASIA PACIFIC) LIMITED
ONEOK Terminates Agreement With NGL Fractionator in Texas.
Texas Children's Hospital Chooses Sentillion to Expedite Creation of User Accounts Associated With $1.5 Billion Hospital Expansion.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters