Monday November 13, 4:25 pm Eastern Time
Press Release
SOURCE: Unique Broadband Systems, Inc.
Unique Broadband Systems Announces Issuance of Bonus Shares
CONCORD, ON, Nov. 13 /CNW/ - Unique Broadband Systems, Inc. (CDNX: UBS - news), a leader in high-speed wireless transmission solutions, today announced that it issued on October 16, 2000 bonus shares to Alex Dolgonos, the President and CEO of UBS. These shares have been issued to Mr. Dolgonos as consideration for personal guarantees given by him for the benefit of UBS relating to loans previously made to UBS. Specifically, Mr. Dolgonos previously guaranteed 2 bank loans made to UBS by the Business Development Bank of Canada. The loans were in the aggregate amount of $1.2 million. As part of the security required by the Bank in order to make these loans to UBS at such time, Mr. Dolgonos provided personal guarantees in the aggregate amount of $425,000. On March 25, 1999, UBS issued a press release, which stated that Mr. Dolgonos was issued 402,569 bonus shares and Stephen Rosen was issued 153,846 bonus shares in respect of personal guarantees provided by both of them. These bonus shares were, in fact, never issued to Messrs. Dolgonos and Rosen and will not be issued to them. Instead, as permitted by CDNX Policy 5.1, Mr. Dolgonos will be issued 326,923 bonus shares in respect of the personal guarantees that he provided previously. Both loans were repaid in full by UBS to the Bank in January 2000.
About Unique Broadband Systems, Inc.
Unique Broadband Systems, Inc. (UBS) is recognized worldwide as a leader in the design, development and manufacture of high-speed mobile and fixed wireless transmission solutions, including systems based on OFDM technology. UBS focuses on high-speed mobile solutions (DAB, SDARS, DVB-T and High-Speed Mobile Multimedia) and fixed wireless multimedia (MMDS). The company's extensive product line is combined with system design, installation, maintenance and technical support to provide customers with total end-to-end system solutions. UBS has offices in the United States, Canada, Russia, Singapore, the UK, France, Italy, Germany and Denmark.
For more information on UBS, its products or investor relations, visit www.uniquesys.com.
For further information
Company contact: Stacy Carson, UBS, (905) 669-8533, investorrelations@uniquesys.com |
