Jane, you wanted to know what I ment by it will get even better. Well, here it is. TNRG, Another release this morning. Can you believe they will retire another 8 million shares on top of the almost 12 million retired in the past ten days.
TIANRONG BUILDING MATERIAL HOLDINGS, LTD. CLARIFICATION ON SHARES OUTSTANDING BUSINESS EDITORS NEW YORK--(BUSINESS WIRE)--MARCH 26, 1998--TIANRONG BUILDING MATERIAL HOLDINGS, LTD. (OTC BB:TNRG) TODAY
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NEW YORK--(BUSINESS WIRE)--March 26, 1998--Tianrong Building
Material Holdings, Ltd. (OTC BB:TNRG.O) today issued the following
statement with regard to its shares outstanding.
"After yesterday's announcement of the cancellation of 9,186,814
shares and the earlier cancellation of 2.5 million shares of Tianrong
stock, there are approximately 35 million shares outstanding. The
cancellation of the 9,186,814 shares, and as yet, two other
unannounced cancellations, were in progress but not completed at the
time of the March 18 press release which implied outstanding shares of
approximately 25 million. The figure of 25 million shares outstanding
was based upon total share cancellations in progress. It is
anticipated that the two additional stock cancellations of 4 million
shares each will be completed in the near future. Upon cancellation of
these shares a total of 19,686,814 shares will have been cancelled
bringing the total shares outstanding to approximately 25 million
shares."
Tianrong is a business development company that has set as its
goal the acquisition of businesses in numerous industries and plans to
apply Tianrong's management expertise to quickly grow value in the
acquired businesses. It is anticipated that on a long-term basis some
of its acquisitions may be spun-off to Tianrong shareholders via stock
dividends.
--30--ik/sf*
CONTACT: Tianrong
James Tilton, 212/398-7833
PS: XMex, this must be what you ment when you told Jane you heard something about TNRG last night.
BIG DOG |
