SE Global Equities Corp. Signs Letter of Intent to Acquire Second U.S.
Registered Broker-Dealer
OTCBB: SEGB
HOPKINS, MN, Jun 19, 2001 /PRNewswire via COMTEX/ -- SE Global Equities Corp.
(OTCBB: SEGB), a provider of direct access trading software and financial
resources for international investors, today announced that it has entered into
a non- binding Letter of Intent to acquire a U.S. registered broker-dealer based
in Florida. The target company focuses on providing brokerage services to active
traders, and had unaudited revenues for the quarter ending March 31st, 2001 of
$523,000.
The Letter of Intent provides for an ongoing consulting agreement between the
current parent of the target company and SE Global Equities Corp. under which
the parent will assist and perform certain administrative functions on behalf of
the target company on a post-acquisition basis in consideration of an annual
fee.
"Along with the pending acquisition of the broker-dealer firm, Global American
Investments, Inc., the successful completion of this second acquisition by SE
Global Equities Corp. is intended to provide the company with economies of scale
in pricing, and flexibility in service, software and clearing options for
prospective and current clients," said Toby Chu, President & CEO of SE Global
Equities Corp. "We believe that having a solid presence in the U.S. market will
assist SE Global in offering some exciting and innovative options to our network
of international brokers."
The transaction is subject to certain closing conditions, including entering
into a definitive agreement, the approval of the SE Global and the target
company's Boards of Directors, the target company's shareholders, the NASD and
any other regulatory authorities having jurisdiction over the transaction.
Further details will be released upon completion of the acquisition.
About SE Global Equities Corp.
SE Global Equities Corp. is a provider of direct access trading software and
financial resources for international investors. SE Global provides direct
access trading software and market data through a formal licensing and worldwide
distribution agreement with Direct Access Financial Corporation. Through an
agreement with Trade Direct USA Inc., SE Global Trade(TM) users are provided
with trade execution and support services through Allen Douglas Direct Inc. and
clearing services from Penson Financial Services Inc.
Through SE Global's international financial website at www.SEGlobal.com, SE
Global members are provided with access to its global alliance network of 27
independent brokerage firms covering 26 stock exchanges spanning five
continents. SE Global is not a securities dealer in its own right and has not
sought such registration. All trade execution and support services are provided
by the individual alliance broker in compliance with local regulatory
requirements. Not all securities, products or services described are available
in all countries, and nothing herein is an offer or solicitation of securities
products and services in any jurisdiction where their offer or sale is not
qualified or exempt from registration.
For more information on SE Global visit its websites at www.SEGlobalTrade.com
and www.SEGlobal.com.
Legal Notice Regarding Forward-Looking Statements
-------------------------------------------------
Statements in this press release which are not purely historical are
forward-looking statements, including any statements regarding beliefs, plans,
expectations or intentions regarding the future. Forward-looking statements in
this release include but are not limited to: SE Global's intention to directly
or indirectly enter into a consulting agreement with the parent for the
provision of services to the target company assuming that the acquisition of the
target company by SE Global is completed; our belief that the pending
acquisitions of Global American Investments, Inc. and the target company will
provide economies of scale in pricing, and flexibility in service, software and
clearing options for prospective and current clients; and our belief that having
a solid presence in the U.S. market will assist SE Global in offering some
exciting and innovative options to our network of international brokers; and
that SE Global will complete the acquisition of Global American Investments,
Inc.
It is important to note that the Company's actual results and outcomes may
differ materially from those contained in the forward-looking statements
contained in this press release. Factors that could cause actual results to
differ materially include, but are not limited to, risks and uncertainties such
as the receipt of all necessary corporate and regulatory approvals, continued
development and maintenance of the infrastructure required for the Internet,
continued and expanded use of the Internet as a basis for commerce and
communication, and the overall success of SE Global and its subsidiaries in
general.
Although SE Global believes that the beliefs, plans, expectations and intentions
contained in this press release are reasonable, there can be no assurance that
such beliefs, plans, expectations or intentions will prove to be accurate.
Readers should refer to the risk disclosures outlined in the Company's amended
report on Form 8-K/A dated February 21, 2001 filed with the Securities and
Exchange Commission.
On Behalf of the Board of Directors
of SE Global Equities Corp.
"Toby Chu"
-------------
Toby Chu
President & C.E.O.
Except for historical matters contained herein, the matters discussed in release
contain certain forward-looking statements and are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect assumptions and involve risks and
uncertainties that may affect SE Global Equities Corp.'s business and prospects
and cause actual results to differ materially from these forward- looking
statements.
SOURCE SE Global Equities Corp.
CONTACT: Investor Relations Contact: Mr. Quentin Mai, N. America Toll
Free: 1-888-865-0901 Ext.312, Email: investor@SEGlobal.com
(SEGB)
prnewswire.com
Copyright (C) 2001 PR Newswire. All rights reserved. |
