[UPDATE1]August 24, 2000-(esecurities.W)--IENT trading halt this morning due to pre-opening bell announcement of existing merger offers and retaining of Concordia Capital Technology Group*, 44 Montgomery Street, San Francisco,CA concordiacapital.com , concordiacapital.com ...
* "...iEntertainment Network, Inc. (NASDAQ: IENT) today announced it has recently been approached by an entertainment-focused NASDAQ company regarding a potential merger. Subsequently, inquiries have been received from additional public companies, as well as private entities in related fields. iEN cautions that contemplated proposals--including minority investment, joint venture, and merger or sale--may not result in a transaction.
iEntertainment Network, Inc. also announced that Concordia Capital Technology Group, Inc. has been retained to advise on strategic alternatives being considered by the company’s board of directors.
"Our intention has been to build the company independently," said Mike Pearce, iEN CEO. "Reported results--including an operating profit in the quarter ending June 30--confirm that rapid Internet revenue growth can be achieved in concert with uncompromising fiscal discipline. This progress is not, however, reflected in the share price and has consequently drawn the attention of other parties interested in leveraging our strengths. Retaining a financial advisor is prudent at this time to build shareholder value..." [emphasis added] Source: (NASDAQ:IENT) Company Press Release 24 August 2000 iencentral.com |
