TELECONCEPTS ISSUES STATEMENT ON STOCK TRANSACTION
TELECONCEPTS ISSUES STATEMENT ON STOCK TRANSACTION NEWINGTON, Conn., Nov. 21 /PRNewswire/ -- TeleConcepts Corporation
(AMEX: TCC) announced today that certain controlling shareholders, William D. Putt and Robert and Myra Winkler, had not closed the sale of their stock to Harold Holder of the Holder Group of Tampa, Fla., which had been previously announced on Sept. 6, 1991. Negotiations related to this sale have been concluded.
Subsequent to the conclusion of negotiations with Holder a preliminary agreement was reached between the above named controlling shareholders and Montle International Inc., a Houston-based merchant bank for the purchase of 2,498,542 shares of the above shareholders' stock. Montle International Inc. also reached agreement with Kiu Yin Investment Co. of Hong Kong for the purchase of 750,000 shares of the common stock of TeleConcepts Corporation which it owns. Closing of these purchase agreements is subject to certain financing arrangements and other considerations of due diligence. TeleConcepts Corporation designs, produces and markets telephone products for residential and commercial applications. Michael D. Herman, a managing director of Montle International Inc. said, "We look forward to increasing shareholder value through improved earnings performance and strategic acquisitions." -0- 11/21/91 /CONTACT: William D. Putt of TeleConcepts, 203-666-5666, or Michael D. Herman of Montle International, 713-228-4633/ (TCC) CO: TeleConcepts Corporation ST: Connecticut IN: TLS SU: CK-JT -- NY058 -- 5898 11/21/91 12:31 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 21, 1991|
|Previous Article:||WYLE AWARDED CONTRACT BY EPRI TO TEST MOTOR OPERATED VALVES|
|Next Article:||HIGH-SPEED TRAIN INTRODUCED IN U.S.|