TNRG to Commence Distribution of Rights Offering Documents
Monday, March 27, 2000 09:23 AM Mail this article to a friend
NEW YORK, March 27 /PRNewswire/ -- Tianrong Building Material Holdings, Ltd, (OTC Bulletin Board: TNRG) announced today that it intends to commence the distribution of the Rights Offering documents for its Tianrong Medical Group, Inc. spin off within one week of the March 31st record date.
Under the offering, all TNRG shareholders as of the record date of March 31, 2000 will receive one (1) right to purchase one (1) share of the common stock of Tianrong Medical Group, Inc. for every four (4) shares of TNRG that they own for $0.05. Affiliates and controlling shareholders, which include management, shall not be eligible to participate in the Rights Offering.
James Tilton, President of TNRG, stated, "It was our goal to have the Rights Offering documentation completed before the March 31st record date, so we could get all of the paperwork in our shareholders hands as soon as possible."
Tianrong is a business development company that intends to engage in the acquisition of businesses across several sectors and, through the application of its management expertise, to enhance shareholder value. For further information contact investor relations at 800-324-3464 or visit tnrg.com .
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Tianrong Building Material Holdings to accomplish its stated plan of business. Tianrong Building Material believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Tianrong Building Material Holdings or any other person that the objectives and plans of Tianrong Building Material Holdings will be achieved.
SOURCE Tianrong Building Material Holdings, Ltd.
CONTACT: TRNG Investor Relations, 800-324-3464
Quote for referenced ticker symbols: TNRG
¸ 2000, PR Newswire
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