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Technology Stocks : City view energy CVCL
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To: TheKelster who wrote (6)2/23/2000 10:57:00 AM
From: denekin  Read Replies (1) of 10
 
From yahoo:
Gulf Arabs Buy Into CityView
PERTH, Australia--(BUSINESS WIRE)--Feb. 23, 2000--CityView (NASDAQ:CVCL - news) advises that 3,000,000 shares have been subscribed for by institutions from the Arabian Gulf subject to shareholders approval at a price of US$1.63 per share raising a total sum of US$4.89 million as follows:

E-Smart Consultants Ltd (1,200,000 shares) is controlled by a Dubai group who will sponsor Sands Solutions.com Pty Ltd (``Sandssol.com') in the Dubai Technology Electronic Commerce and Media Free Zone. Their objective is to use the Sandssol.com technology for customers in the United Arab Emirates.

Industrial Investments Company - K.S.C.C and/or nominee (600,000 shares) is a substantial Kuwait institution.

Azure Energy Fund (1,200,000 shares) is a private equity fund whose investors include two major institutions from Kuwait.

This placement is the first step enabling Sandssol.com to access the large markets in the Gulf Corporation countries for defence, petroleum, utilities and construction.

Sandssol.com has a diverse range of applications and operates in similar fields to Commerce One Inc (NASDAQ:CMRC - news) and Ariba Inc (NASDAQ:ARBA - news)

Web site for Sands Solutions.com Pty Ltd - sandssol.com

Web site for CityView - cityviewcorp.com

AP Woods Company Secretary/Chief Financial Officer

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