NEWS! But NOT what we've been awaiting:
Wednesday September 22, 4:06 pm Eastern Time
Company Press Release
Restaurant Teams International, Inc.
Obtains Temporary Injunction
LONGVIEW, Texas--(BUSINESS WIRE)--Sept. 22, 1999--Restaurant Teams International, Inc.
(OTC BB:RTIN - news)
In late July of this year Dominion Capital, Canadian Advantage, & Sovereign Partners, affiliates of
Stephen M. Hicks, through Thomson, Kernaghan & Co., filed to convert over 300,000 restricted
shares of RTIN common stock to free trading.
On September 20, 1999, Presiding Judge Jim Ammerman II of the County Court in Harrison
County, Texas, issued an order enjoining RTIN's transfer agent from transferring and removing the
restriction on the block of approximately 300,000 restricted shares.
Dominion Capital, Canadian Advantage, & Sovereign Partners appeared attempting to intervene in
the proceeding. The Court's Order shall continue in full force and effect until October 4, 1999, when
the motion to intervene shall be heard which RTIN will vigorously oppose with maximum legal
recourse.
Speno & Cohen LLP, Attorneys for RTIN commented: ``We are extremely pleased with Judge
Ammerman's Order. We intend to pursue Mr. Stephen M. Hicks, Mr. Mark Valentine, Thomson
Kernaghan & Co., and their affiliates on behalf of RTIN and its shareholders to the fullest extent of
the law in every realm legally available to us, given the circumstances of this case, until justice is finally
served.'
This press release contains forward-looking statements, which are generally preceded by words such
as ``believes,' ``expects,' ``anticipates,' or ``intends.' Such statements are subject to risks and
uncertainties, including but not limited to competitive conditions, real estate zoning and permitting
complications, government regulations, and general conditions in the restaurant market.
Contact:
Restaurant Teams International, Inc., Longview
Investor Relations
Curtis Swanson, 903/758-2811
903/758-1666 (Facsimile) |
