day December 8, 10:46 am Eastern Time
Company Press Release
SOURCE: Key Capital Corporation
Key Capital Corporation Advises
Re-organization
DALLAS, Dec. 8 /CNW-PRN/ - Key Capital Corporation, OTC BB ''KCAP'' announces that the company due to a
number of issues has disposed of its interest in KeyClub.net to Mr. Roller Boogie's, Inc listed on the Bulletin Board and
trading under the symbol ''MRBO''.
The main issues leading to the divestment are out-standing matters remaining unresolved following the change of control of
the company in early April 1998. As a result of this situation the Company's controlling shareholder, Vanity A.V.V. has
elected to exercise its right to transfer the KeyClub.net interests which have been held in escrow to Mr. Roller Boogie's,
Inc. (''MRBO'')
All Key Capital Corporation shareholders as at 5.00 PM on Tuesday December 8, 1998 will be entitled to a 1:1 issue or
distribution of shares issued pursuant to Rule 144 in Mr. Roller Boogie's, Inc. This entitlement, subject to legal advice and
compliance with regulatory requirements, is expected to be distributed in early 1999. Dallas investment banking group,
Select Corporate Services, Inc., is currently holding 50% of the consideration shares in trust for shareholders pending the
advice and compliance referred to.
The remaining asset of the company shall be the computer services subsidiary TotalCorp, Inc. The previously reported sale
of this business will not proceed.
The company further reports that it is proceeding with ongoing investigations into recent irregular share-trading activity and
the possible collusion of activity between a number of parties. |
