FOR: LENOX POLYMERS LIMITED
8,214,785 Shares Issued/Outstanding CUSIP:526E104
CANADIAN DEALING NETWORK SYMBOL: LENP
SEPTEMBER 28, 1999
Lenox Polymers Ltd. Announces Results From Their Annual General Meeting.
PORT HURON, MISSOURI--LENOX POLYMERS Ltd. held its Annual General Meeting in Toronto, Ontario, Canada. The shareholders voted in favor of the following resolutions:
1) The Company's shareholders approved all necessary documentation and domestication requirements to trade on a US stock market, including becoming an AMERICAN corporation.
2) The Charter Accountants- Collins Barrow, C.A.
3) The Advisory Board-Amend bylaw 5.03 which makes provision for 7 advisory board members.
4) The Advisory Board appointments-Mr. David Millman, Mr. Robert Fedak and Mr.Jeffrey Lee
5) The Board of Director -Mr. Ken Kurple, Mr. Greg Deacon and Mr. Chia- Su Wan
The Company revealed that ongoing sales, new sales, and licensing agreements for both its proprietary tooling and resins divisions increased during its fiscal 4th-quarter 1999.
The Company announced the following business relationships:
1) Wellington Leisure Crafts- A well known water and snow
recreational manufacture bought resins to improve its exciting line of snow and ski boards.
2) MSX- a major tier one supplier to the automobile industry has purchased a licensing agreement for the Company's tooling product. Lenox received $50,000.00 to date. MSX has 55 production facilities world wide and over $1.7 billion US dollars in annual sales.
3) Metton America, Inc.- a specialty resin manufacture for the Auto industry has purchased a tooling product for approx.$7000.00 US. Management feels confident that this tool will exceed the customers expectations and expects more orders .
4) The Company has numerous Letters- of- Intent but couldn't release the names of these major corporations, at this time
.
The Company's aggressive posture to increase sales remains management's focus and thrust throughout fiscal 2000. The Company appreciates all shareholders for their continuous support in the business progress of Lenox Polymers, Ltd.
LENOX POLYMERS Ltd. develops and produces environmentally friendly specialty, performance resins for the urethane, foundry, adhesive, coating and plastic industries. It also produces tooling for a variety of heavy industrial applications.
Lenox Polymers Ltd. trades under LENP on the Canadian Dealing Network.
On Behalf of the Board,
Ken Kurple
President/Chairman of the Board |
