Enhanced Announces it Will Pursue Business Combination With ZULU
PR Newswire - May 04, 1998 11:44
NETZ ESVS %CPR %MLM V%PRN P%PRN
HOUSTON, May 4 /PRNewswire/ -- Enhanced Services Company, Inc. (Nasdaq: ESVS) and ZULU-tek, Inc. (OTC Bulletin Board: NETZ)
announced today that their Boards of Directors had agreed to continue to pursue a business combination of the two corporations. The resulting
entity will be a single enterprise that will pursue a coordinated vertically integrated business plan focused principally on Internet advertising,
electronic commerce, technology development and laptop sales via the Internet.
In anticipation of the combination, Enhanced reported that it may make additional investments in ZULU and is currently pursuing a private
placement to fund a combined business strategy. Management of the two companies are currently developing the precise structure of the stages
for the transaction which is expected to be implemented later this year. The combination is subject to regulatory and shareholder approval and
compliance with NASDAQ rules.
SOURCE Enhanced Services Company, Inc.
/CONTACT: Investor Relations of ZULU, 310-727-1276 or Mary T. Conway or
Heather Midgley of McDermott/O'Neill & Associates, 617-227-2600,
mconway@mcdermott-oneill.com, hmidgley@mcdermott-oneill.com/
(NETZ ESVS) |
