Just posting the latest news, and to keep the information related to my investment in this stock up-to-date on this board!!! These days the most active Starnet board is at: ragingbull.com and the by PLG1 should be monitored for current events...
Now, here is the latest news (that PLG1 has taken the time to analyze)... as a busy private investor, I for one appreciate PLG's efforts on providing pure DD (each investor be your own jude), pure Updates, and No Hype!!! :-)
Which is Very Rare on the Boards these days!!!
Has gained my respect of this Starnet investor for being impartial, though he/she posts often, it is intended to counter act the amount of SPAM allowed by RagingBull.com!!!!
Remember, they and StockHouse (where every view bumps their counter 3X) is a matter of survival and economics !!!
If you want a really great OTCBB site try SmallCapCenter: stockgroup.com
OK, Enough Gabbing, here the latest news:
>>>
Thursday October 19, 6:52 pm Eastern Time
Press Release
Starnet Reports Filing to Reorganize Into a United Kingdom
Parent Company
ST. JOHNS, Antigua--(BUSINESS WIRE)--Oct. 19, 2000--Starnet Communications International Inc.
(OTC-BB: ``SNMM'') (``Starnet''), a leading provider of interactive media and information systems for
companies engaged in the Internet gaming industry has filed a preliminary Proxy Statement/Prospectus on Form F-4 with the United
States Securities and Exchange Commission to solicit shareholder approval for the reorganization of Starnet's corporate structure.
Under the terms of the proposed reorganization agreement, Starnet will become the wholly owned subsidiary of World Gaming, Plc,
a newly formed company incorporated in England and Wales.
In connection with the reorganization, each holder of shares of Starnet will receive one ordinary share of World Gaming, Plc in
exchange for each share of Starnet common stock. The exchange offer is only being made to existing holders of record of Starnet
common stock on the record date.
The Company believes that the reorganization will enhance shareholder value by allowing Starnet to capitalize on a business
environment that is more supportive of companies operating in the online gaming industry and that allows for greater opportunity to
pursue strategic business alliances and access to capital markets. ``Starnet believes that the United Kingdom provides us a more
stable and predictable business and financial environment'' said Fred Hazell, Starnet's chairman and interim president and chief
executive officer. ``Therefore, we are taking this proactive measure as part of our ongoing efforts toward continued success and
growth. Starnet's principal objective is to enhance shareholder value by increasing our long-term profitability and growth
opportunities.''
The proposed reorganization will be submitted to Starnet shareholders who will have the opportunity to vote on the reorganization at
a special meeting of shareholders, anticipated to be held in mid-December, either in person or by proxy .
Prior to consummation of the reorganization, Starnet intends to have the ordinary shares admitted or authorized to trade on a stock
exchange or trading facility in the U.K., U.S. or elsewhere, either directly as ordinary shares or as American depository receipts.
Starnet's board of directors does not intend to consummate the reorganization if Starnet is unable to gain such admittance or
authorization to trade its ordinary shares.
About Starnet
Starnet is a leading developer and producer of Internet technologies for gaming applications. The company's new software,
Beyond2000, which began a phased launch in August, 2000, will offer a full suite of gaming products, including casinos, sports
betting, bingo, lotto, and horse racing. Games are available in a number of different formats including Java, C++, and HTML and
comprehensive marketing support software is also provided. For more information, please visit www.snmm.com or email
sales@starnetsystems.net.
Starnet is an SEC reporting US (Delaware) corporation, which currently trades on the Over-The-Counter Bulletin Board. The
company began trading in September of 1997 under the symbol ``SNMM''. Starnet is also listed on the Berlin Stock Exchange where
it is traded on the Over-The-Counter market under the symbol ``SNM''.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not
historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and
evaluation of products and other risks detailed from time to time in Starnet's filings with the Securities & Exchange Commission. We
assume no responsibility for the accuracy and completeness of these statements and are under no duty to update any of the
forward-looking statements contained herein to conform these statements to actual results. This is not an offer to sell or a solicitation
of an offer to purchase any securities.
Contact:
Starnet Communications International Inc.
Rob Grace, Investor Relations Manager
Ph: 604/608-8733
Fax: 604/608-6163
North American Toll: 1/888-883-0833
Outside N. America: 1/800-883-88338
Email: ir@snmm.com
or
Ogilvy Public Relations Worldwide
Brad Miller
Ph: 212/880-5345
>>>
BTW, It's a good feeling to see SDL, CSCO, and NT, coming in touch with Reality...Might just pick some up but, GE, MOT, and DELL are interesting at these levels...
Later...Gator |
