(NYSE:AMB), Groome, COOPERSPEAK, $.45/share, and PYRAMID, a B.C. Company.
8-23-96 American Brands (NYSE:AMB), Greenwich, Conn. announced "...the tender offer for Gravis remains open..." due to Gravis shareholders rejecting said tender and that "...American Brands remains confident that the tender offer represents the best alternative available to Advanced Gravis shareholders...".
9-04-96 CHARLES SCHWAB'S reorganization dept. issues a Western Union Mailgram to its clients who hold shares in Advanced Gravis, stating, in part, "...PYRAMID ACQUISITION CORPORATION HAS OFFERED TO PURCHASE ALL OUTSTANDING SHARES OF ADVANCED GRAVIS ...AT $0.45 CANADIAN PER SHARE..."
9-10-96 ACCO World Corporation, Deerfield, Illinois issues a letter to Gravis shareholders stating, in part, "...Our British Columbia subsidiary exercised, on September 9, 1996 its right to extend its August 17, 1996 cash tender offer...This extended offer will remain open for an additional 10 day period and will expire on September 20, 1996 at 12:01 a.m...About (only) 59% of the outstanding common shares of Advanced Gravis have been tendered to date...We remain confident that the tender offer will be successful...".
9-16-96 Mike Cooper issues a news release via American Telegram, EXPEDITED MESSAGE SERVICE, "ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. REPEATS RECOMMENDATION THAT SHAREHOLDERS ACCEPT PYRAMID ACQUISITION CORP. OFFER...termination of the ACCO offer...would place Advanced Gravis in default of its obligations and the Company could be forced into bankruptcy...".
9-17-96 CHARLES SCHWAB issues another WESTERN UNION MAILGRAM stating, in part, "...PYRAMID ACQUISITION CORP...HAS EXTENDED ITS TENDER OFFER...IF LESS THAN 75% OF THE OUTSTANDING SHARES ARE NOT SUBMITTED IN THE OFFER, THE OFFER WILL NOT GO THROUGH...".
9-20-96 PYRAMID ACQUISITION CORP., (NYSE:AMB) and Gravis issue a joint release via BUSINESSWIRE stating, in part, "...that PYRAMID has elected to waive its condition that a minimum of 75% of the outstanding Common Shares be tendered to the offer...Norman H. Wesley, president and chief executive officer of ACCO World, said: '...We are impressed with Advanced Gravis' management and infrastructure abilities...the first priority...supplying product for the important holiday season. We also plan early investments in exciting new products...".
9-27-96 Mike Cooper announces Q2 results in re: increase in gross margins and reduction in losses for six months ended July 31, 1996 from $.07 to $.03/share for the prior year period. Gravis is also generating positive cash flow.
10-1-96 Mike Cooper, President and CEO, Advanced Gravis announced "...that it has obtained an extension of its current credit facility...under an existing forbearance agreement until December 31, 1996...and has established..."...an additional $C5,000,000 unsecured credit facilty with Kensington...the parent company of Pyramid Acquisition., the majority shareholder of Advanced Gravis.
10-3-96 30,000 share fill or kill (all or none) day order was entered at $C.45/share by existing Gravis shareholder(s). The entire order was filled at $C.45/share. The current bid was $C.43 and the current ask was $C.45.
...the shell game continues...
In the meantime, Thrustmaster (NASDAQ:TMSR) is quietly under accumulation and increasing in market capitalization...Redchip review has recently issued a BUY in addition to a majority stake being taken...PC entertainment hardware peripherals is now unequivocally recognized and in play with the street...and how about that Nintendo 64?... |
