Tencent's proposal is conditioned upon the Majority Stockholders
agreeing to support, and to roll their existing equity in the Company into, the Transaction.
OTCBB:ASIQ) announced today that the Company's Board has received and ratified a restructuring proposal received from the majority stockholders
of the company.
OTCQB: GSXN) ("Gasco" or the "Company") today announced that its Board of Directors and majority stockholders
, Markham LLC and Orogen Energy, Inc.
that are majority stockholders
in the company today.
The majority stockholders
informed Hayes that, based on discussions with representatives of the special committee of the Hayes Board, the majority stockholders
believed that it was unlikely that they would be able to reach an agreement as to the price per share to be paid to the Company's minority stockholders.
At this time, the Company has concluded that there is not an acceptable strategic partner or buyer and is proceeding to work with its lenders to complete a capital restructuring where its lenders would convert a substantial portion of their debt to equity and become the majority stockholders
of the Company.
AMEX: SJS) announced in July that its majority stockholders
had informed the Company of their intention to sell their shares and that the Company had retained financial advisors to assist it in considering the possible sale of the Company.
On June 1, 2004 , the majority stockholders
approved a new Transfer Agent, CUSIP number, and a Reverse Split resolution.
NASDAQ-OTC: MPSG) today announced that it has received consent from majority stockholders
to proceed with a reverse stock split effective Nov.
in the State of Utah, and the new Board of Directors and majority stockholders
have approved a name change to "CinemaElectric, Inc.
Garfinkle and Failing, together with the additional stockholders who have organized Holdco, own in excess of a majority of ERS' outstanding Common Stock, the sole class of voting securities of ERS, and have executed a consent as majority stockholders
approving the merger.
The Company will convene a special shareholders meeting in the near future to obtain stockholder approval, however, the majority stockholders
have endorsed the Board's decision and have confirmed that they shall vote in favour of the spin-off.