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Microcap & Penny Stocks : PLEX Shell to merge with internet company
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To: Old Stock Collector who wrote (8)8/4/1999 8:46:00 PM
From: TOPFUEL   of 36
 
PROPOSED TRANSACTIONS

The Company intends to acquire the business of Global Travel Network, LLC, a limited liability company doing business in the
state of New Jersey ("Global"). Global is a provider of travel packages and travel related services. Currently, the Company is
contemplating acquiring from Global, in exchange for shares of Common Stock of the Company, all of the outstanding
membership interests of Global. Immediately thereafter, a wholly-owned subsidiary of the Company would merge with and into
Global, in exchange for shares of Common Stock of the Company, with Global as the surviving corporation (the "Merger").
Following the Merger, Global would be a wholly-owned subsidiary of the Company.

The Company is currently negotiating the agreement with respect to the acquisition of the business of Global. It is contemplated
that the Company's wholly-owned subsidiary formed for such purposes will merge into Global in a tax free reorganization within
the meaning of Sections 351 and/or 368 of the Internal Revenue Code of 1986, as amended. Consummation of the transaction
is subject to the approval of holders of a majority of the membership interests of Global. The Merger is subject to a number of
conditions, and there can be no assurance that an agreement with respect to the Merger will be entered into, or that the Merger
will be consummated.

biz.yahoo.com
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