*AV* - Speaking of Reverse Splits - (True but hilarious)
SAFE AID PRODUCTS INC files proxy for structural change.
IFN Smart Edgar News - December 31, 1997 15:39
Excerpted from DEFM14A filed on 12/31 by SAFE AID PRODUCTS INC:
SAFE AID PRODUCTS INC files proxy for structural change.
(4) Date Filed:
SAFE AID PRODUCTS INCORPORATED
This Proxy Statement is furnished in connection with the solicitation
by the Board of Directors of Safe Aid Products Incorporated, a Delaware
corporation ("Safe Aid") of proxies from the holders of Safe Aid's common
stock,
par value $.00001 per share (the "Safe Aid Common Stock"), for use at the
Special Meeting of Stockholders to be held at the offices of Lazer, Aptheker,
Feldman, Rosella & Yedid, LLP on January 30, 1998, beginning at 10:30 a.m.
local
time and at all adjournments and postponements thereof (the "Special
Meeting").
The approximate date that this Proxy Statement and the enclosed
form of
proxy are first being sent to stockholders is December 30, 1997. Safe Aid's
principal executive offices are located at c/o Lazer, Aptheker, Feldman,
Rosella
& Yedid, LLP, 225 Old Country Road, Melville, New York 11747 and its telephone
number is (516) 364-3887.
PURPOSES OF THE SPECIAL MEETING
At the Special Meeting, Safe Aid's stockholders will consider and vote upon
the
following matters:
1. An amendment to Safe Aid's Certificate of Incorporation to effectuate a
ten-for-one reverse stock split of Safe Aid's Common Stock (the "Reverse Stock
Split");
2. An amendment to Safe Aid's Certificate of Incorporation to increase the
authorized common stock to 999,999,000 shares of common stock (the "Common
Stock
Amendment");
3. An amendment to Safe Aid's Certificate of Incorporation to change Safe
Aid's
name to Safe Technologies International, Inc. (the "Name Change Amendment");
4. The proposed merger of Intelligence Network International, Inc., a Florida
corporation ("INI") with and into Safe Aid pursuant to the terms and condition
of the merger agreement between INI and SafeAid dated August 29, 1997, as
amended, (the "Merger Proposal"); and
5. Such other business as may properly come before the Special Meeting,
including any adjournments or postponements thereof.
In order to consummate the Merger with Intelligence Network
International, Inc., (INI) Safe Aid stockholders need to adopt and approve
each
of the proposals presented at the Special Meeting: (I) the Reverse Stock
Split,
(ii) the Common Stock Amendment, (iii) the Name Change Amendment, and (iv) the
Merger Proposal. The Merger Agreement provides that approval of each of these
proposals is a condition precedent to closing the Merger.
Unless contrary instructions are indicated on the enclosed proxy, all
shares represented by valid proxies received pursuant to this solicitation
(and
which have not been revoked in accordance with the procedures set forth
herein)
will be voted FOR the Reverse Stock Split, FOR the Common Stock Amendment, FOR
the Name Change Amendment, and FOR the Merger Proposal. In the event a
stockholder specifies a different choice by means of the enclosed proxy,
his or
her shares will be voted in accordance with the specifications so made. The
Board does not know of any other matters that may be brought before the
Special
Meeting. In the event that any other matter should come before the Special
Meeting, the persons named in the enclosed proxy will have discretionary
authority to vote all proxies not marked to the contrary with respect to such
matters in accordance with their best judgment.
SUMMARY
The following is a summary of certain information contained elsewhere
in this Proxy Statement. Reference is made to, and this Summary is
qualified in
its entirety by, the more detailed information contained elsewhere in this
Proxy
Statement.
General
This Proxy Statement, Notice of Safe Aid Special Meeting to be held
January 30, 1998, and form of proxy solicited in connection therewith are
being
mailed to holders of Safe Aid Common Stock on or about December 30, 1997.
(End of Item Excerpt)
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