Muf. Odd timing. There actually is some news:
Aviation Holdings Group Buys 10 Million Shares of Wasatch From
LaSalle Group
August 18, 1997 12:56 PM
BOYNTON BEACH, Fla.--(BUSINESS WIRE)--Aug. 15, 1997--
-- Purchase Makes Aviation Holdings Largest Shareholder; Clears Foreign
Ownership Restrictions --
Wasatch International Corp. WITD announced Friday that Aviation
Holdings Group has purchased 10 million shares of Wasatch Class A
common stock from LaSalle Holdings Ltd. The purchase price was not
disclosed.
LaSalle Holdings, a Cayman Island company, is controlled by Anne
Greyling. This stock purchase eliminates Greyling's control of Wasatch.
With LaSalle no longer in control of Wasatch, this company's ability to
explore investment opportunities in the aviation industry has been enhanced.
Aviation Holdings is now the largest shareholder of Wasatch, controlling
approximately 33% of the 30 million outstanding shares. Aviation Holdings'
president, Joe Logan, who is also president of Wasatch International,
stated that "by consolidating control of Wasatch, we will now be able to
pursue investments in the US aviation industry. We'll also be able to be in a
more secure position to develop our property in the Bahamas, and consider
other development opportunities in the transportation and hospitality
industries."
In addition, Wasatch, through its participation in Edward's-Wasatch
Enterprises, holds a debt position and equity right with Kiwi International
Holdings, which purchased the assets of Kiwi International in Mid-July.
Since the acquisition, KIWI has received preliminary approval to serve the
City of Niagara, N.Y. and has created a new web site at JETKIWI.COM.
KIWI celebrates its fifth anniversary in September 1997.
In addition to its involvement in KIWI, Wasatch also owns the
development rights to 15,000 prime waterfront acres in the Bahamas.
I'm off to check out the Web Site: http://www.jetkiwi.com. |
