كسبان جدا
10-10-2006, Tue 9:18 PM
ما فهمنا الخبر صح الى الان
بس الشركة نموها ممتاز
وحصل اتفاق مبدئي مع شركة apii
لشراء أسهم nmkt بما لايقل عن 0.5 للسهم
والان مرتفع 11% 0.32
نشتري ولا.
شريت كمية بسيطه على 0.32
الله يستر
NewMarket Technology, Inc., and Action Products International, Inc., Explore Potential Acquisition of All NewMarket Outstanding Stock by Action Products
Tuesday October 10, 10:00 am ET
Companies Sign Letter of Intent to Begin Formal Negotiations and Due Diligence
DALLAS, TX--(MARKET WIRE)--Oct 10, 2006 -- NewMarket Technology, Inc., (OTC BB:NMKT.OB - News) and Action Products International, Inc., (NASDAQ:APII - News) today announced executing a non-binding letter of intent (LOI) regarding the possible acquisition of all NewMarket outstanding common stock by Action Products in exchange for APII common stock. The letter of intent includes specific consideration for the respective shareholders of each Company.
Consideration for NewMarket Shareholders
NewMarket common stock would be valued in the transaction at not less than $0.50 per share for a total transaction value to NewMarket shareholders of approximately $100 million. The $0.50 per share purchase price is a minimum and not a constraint to the actual valuation. The actual NewMarket common stock purchase price could be higher.
Consideration for Action Products Shareholders
The shareholders of Action Products common stock will have an option in conjunction with the contemplated transaction to exchange their shares of common stock for shares of Class A Preferred Stock on a one share for one share basis. The Class A Preferred Stock will have a par value of $6 per share and include an annual yield of 5% payable quarterly in cash. In the event all 5.2 million shares currently issued and outstanding are converted, the 5% annual yield represents approximately $1.5 million in potential cash dividends to Class A Preferred shareholders per year or an estimated $0.30 per share. The current Action Products warrant holders will have the right to exercise their warrants and tender the common stock to receive the new convertible preferred shares, until a date to be set, which would be before the acquisition is completed. If the warrants are not exercised, by the conversion date, they will remain in effect under their current terms. The Action Products shareholders may maintain their warrant even if they choose to exchange common stock for the Class A Preferred Stock. The Class A Preferred stock will be callable by the Company after one year at par and will automatically convert to common in the event the market bid price for Action Products common stock remains at or above $6 per share for 10 consecutive days.
The current NewMarket management team would remain as the combined Company management team. The transaction would be subject to a shareholder vote of both companies.
"We are early on in our discussions, but the possible combination of the two companies has a number of promising benefits," said Philip Verges, CEO and Chairman of NewMarket Technology, Inc. "NewMarket would enjoy a listing upgrade to the NASDAQ exchange subject to review by NASDAQ. The existing Action Products operation is also a valuable asset. In the future, NewMarket intends to expand its business model for introducing new products and services to new markets beyond the technology sector. The possible transaction with Action Products creates consideration for accelerating that expansion."
Ron Kaplan, CEO and Chairman of Action Products International, Inc
بس الشركة نموها ممتاز
وحصل اتفاق مبدئي مع شركة apii
لشراء أسهم nmkt بما لايقل عن 0.5 للسهم
والان مرتفع 11% 0.32
نشتري ولا.
شريت كمية بسيطه على 0.32
الله يستر
NewMarket Technology, Inc., and Action Products International, Inc., Explore Potential Acquisition of All NewMarket Outstanding Stock by Action Products
Tuesday October 10, 10:00 am ET
Companies Sign Letter of Intent to Begin Formal Negotiations and Due Diligence
DALLAS, TX--(MARKET WIRE)--Oct 10, 2006 -- NewMarket Technology, Inc., (OTC BB:NMKT.OB - News) and Action Products International, Inc., (NASDAQ:APII - News) today announced executing a non-binding letter of intent (LOI) regarding the possible acquisition of all NewMarket outstanding common stock by Action Products in exchange for APII common stock. The letter of intent includes specific consideration for the respective shareholders of each Company.
Consideration for NewMarket Shareholders
NewMarket common stock would be valued in the transaction at not less than $0.50 per share for a total transaction value to NewMarket shareholders of approximately $100 million. The $0.50 per share purchase price is a minimum and not a constraint to the actual valuation. The actual NewMarket common stock purchase price could be higher.
Consideration for Action Products Shareholders
The shareholders of Action Products common stock will have an option in conjunction with the contemplated transaction to exchange their shares of common stock for shares of Class A Preferred Stock on a one share for one share basis. The Class A Preferred Stock will have a par value of $6 per share and include an annual yield of 5% payable quarterly in cash. In the event all 5.2 million shares currently issued and outstanding are converted, the 5% annual yield represents approximately $1.5 million in potential cash dividends to Class A Preferred shareholders per year or an estimated $0.30 per share. The current Action Products warrant holders will have the right to exercise their warrants and tender the common stock to receive the new convertible preferred shares, until a date to be set, which would be before the acquisition is completed. If the warrants are not exercised, by the conversion date, they will remain in effect under their current terms. The Action Products shareholders may maintain their warrant even if they choose to exchange common stock for the Class A Preferred Stock. The Class A Preferred stock will be callable by the Company after one year at par and will automatically convert to common in the event the market bid price for Action Products common stock remains at or above $6 per share for 10 consecutive days.
The current NewMarket management team would remain as the combined Company management team. The transaction would be subject to a shareholder vote of both companies.
"We are early on in our discussions, but the possible combination of the two companies has a number of promising benefits," said Philip Verges, CEO and Chairman of NewMarket Technology, Inc. "NewMarket would enjoy a listing upgrade to the NASDAQ exchange subject to review by NASDAQ. The existing Action Products operation is also a valuable asset. In the future, NewMarket intends to expand its business model for introducing new products and services to new markets beyond the technology sector. The possible transaction with Action Products creates consideration for accelerating that expansion."
Ron Kaplan, CEO and Chairman of Action Products International, Inc