AIT Advanced Information Technologies Corp. Message Board

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Gold/Mining/Energy : AIT Advanced Information Technologies Corp.

AIV 5.280

-0.8%

12:44 PM EST

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To: hugh thorne who wrote (84)	10/5/1998 4:25:00 PM
From: wayne cath	of 130

Globe says Rapid Eye division sold AIT Advanced Information Technologies AIV Shares issued 6,015,500 Oct 2 close $0.25 Mon 5 Oct 98 In the News The Globe and Mail reports in its Monday edition that AIT Advanced Information Technologies has agreed to sell its Rapid Eye division to Ademco Group, a unit of Chicago-based Pittway Corp. Ademco has offered employment to the division's staff and plans to establish a research and product marketing group in Ottawa. AIT has also completed the sale of a majority interest in its AIT Recorders subsidiary. Ottawa-based AIT will raise cash proceeds of about $1.4-million from the transactions, before closing costs. It also will take a non-cash writedown of assets of about $2.7-million, to be recorded in the fourth quarter ended Sept. 30. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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