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(HCT.) Hartcourt Is Now Traded on Berlin Stock Exchange
(HCT.) Hartcourt Is Now Traded on Berlin Stock Exchange
LOS ANGELES, Jul 12, 1999 (BUSINESS WIRE via COMTEX) -- TheHartcourt
Companies Inc. (OTC BB:HRCT) today announced that it has been approved
to be listed on the Third Market Segment of the Berlin Stock Exchange
in Germany.
The trading symbol of the shares is HCT. The securities code is 900
009. This is the first step in an effort to list Hartcourt on major
stock markets to ensure a healthy support for the company. Hartcourt is
working on the application to be listed in Hong Kong and Singapore as
well.
As for the listing of Hartcourt on NASDAQ National Market System, Dr.
Alan Phan, chairman and chief executive officer, confirmed that the
company will re-file its application, as soon as the stock price
reaches $5 per share. Hartcourt is a fully reporting company since
1994.
Phan also confirmed that Hartcourt has signed agreements to joint
venture with two other Chinese companies, one a national Internet
Service Provider and one a financial data bank. Detailed announcements
will be made public once the Chinese partners approve the text.
Phan said, "With the completion of these three acquisitions, Hartcourt
will accomplish the first stage of its mission to be a major Internet
player in China. While we are extremely disappointed at the low value
of our stock price, we believe that, in the near future, the investment
markets in the U.S., Europe and Asia will realize the mind-boggling
possibilities of our Chinaoperations.
"UAC Online Trading has positioned itself to become the first and major
E-trade in China. This acquisition alone should make Hartcourt a
household name in the new Internet world."
As for the financing of these transactions, Hartcourt is engaging a
well-known investment banking firm for a private placement and also to
represent Hartcourt in discussing with other major companies that are
interested in a strategic alliance or partial investment. Details of
the banking arrangement will be made public by month's end.
Phan continued, "Right now, the only weakness in our strategy has been
our public relations effort. The investment community still does not
grasp the potential value of the UAC online trading investment. We will
engage the service of a PR firm very soon, and our Web site will be
redone to reflect the new operations."
Hartcourt and Enova would also like to inform their shareholders and
customers that their offices have been relocated to 1198 E. Willow St.,
Long Beach, Calif. 90806. Tel: 562/426-9796. Fax: 562/426-8896.
Certain statements in this news release may constitute
"forward-looking" statements within the meaning of Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements
involve risks, uncertainties and other factors, which may cause the
actual results, performance or achievement expressed or implied by such
forward-looking statements to differ materially from the
forward-looking statements.
Copyright (C) 1999 Business Wire. All rights reserved.
-0-
CONTACT: Hartcourt Companies Inc., Long Beach
Dr. Alan V. Phan, 562/426-9796
WEB PAGE: businesswire.com
GEOGRAPHY: CALIFORNIA INTERNATIONAL EUROPE ASIA PACIFIC
INDUSTRY CODE: COMED
INTERACTIVE/MULTIMEDIA/INTERNET
BANKING
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