VASCO Corp. Plans Securities Exchange
LOMBARD, Ill. and BRUSSELS, Belgium, Sept. 15 /PRNewswire/ -- VASCO Corp. (OTC-Bulletin Board: VASC) today announced the filing of a registration statement with the Securities and Exchange Commission (``SEC'') to register an exchange offer of securities of its newly organized subsidiary, VASCO Data Security International, Inc. (``VDSII'') for securities of VASCO Corp. (``VASCO''). The new name was chosen to better reflect the current and future scope of the business.
VDSII has filed the registration statement and it will be the parent corporation upon completion of the new reorganization. VASCO security holders will have the opportunity to exchange their securities for the VDSII securities. The exchange offer will only be made by a prospectus which will contain information on the proposed reorganization, including the administrative exchange procedure. After the registration statement becomes effective with the SEC, all security holders will be mailed a prospectus.For certain legal and procedural reasons the Company decided to form VDSII to facilitate future corporate development plans. If the reorganization is completed, there will be no material changes in the day-to-day business operations.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the egistration statement become effective. This release shall not constitute and offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
Forward Looking Statements
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as ``believes,'' ``anticipates,'' ``plans,'' or ``expects'' is forward- looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
Standard & Poor's CORPORATION RECORDS provides coverage on VASCO Corp.
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SOURCE: VASCO Data Security, Inc. |
