Note he didnt cancel his ``special 'B' shares'', just the right to convert them to common. Which he knows well are worthless anyway. Its kind of a sacrifice with an already dead duck !
He should have done this a year ago. Do I trust these guys ? LOL, about as much as an admitted con-man with a felony arrest record.
"Value Holdings, Inc. Chairman Cancels 'Share Exchange' Compensation Agreement
MIAMI, April 11 /PRNewswire/ -- Value Holdings, Inc. (OTC Bulletin Board: VALH - news), a holding company formed to acquire and consolidate industrial distribution businesses relating to the lumber and general building materials industry, today announced that Chairman Robert Ziner has canceled a compensation agreement allowing him to exchange his shares in Value's wholly owned subsidiary, ``Network Forest Products,'' for more than 341 million common shares of Value Holdings, Inc.
``Clearly many shareholders have viewed the agreement as potentially dilutive and consequently there has been an opinion that the agreement has created a negative weight on the market for the company's shares. In canceling this compensation agreement, I am pleased to do my part and show my continued confidence in the strength of Value Holdings,'' said Mr. Ziner.
Pursuant to the Exchange Agreement Mr. Ziner had the right to convert his 3.4 million ``special 'B' shares'' of Network Forest Products into more than 341 million common shares of Value Holdings, Inc." |
