02/08 14:28 Winners All Announces
Restructuring and Results From
Shareholders' <WINA.OB>
Winners All Announces Restructuring and Results From Shareholders' and
Directors' Meetings of the Company
POMPANO BEACH, Fla.--(BUSINESS WIRE)--Feb. 8, 1999--Winners All
International Inc. ("company") announced in a Special Meeting of the
Common Stock shareholders held this morning, voted and approved to
increase the authorized common stock capitalization of the company,
change the name of the company to Urecoats Industries Inc. and ratified and
approved the 1999 Consultant and Employee Stock Purchase and Option
Plan.
The board of directors of the company also held a Special Meeting this
morning. Howard Weiser stepped aside as chairman of the board and
resigned as president and chief executive officer. Richard J. Kurtz was
appointed chairman of the board and Larry T. Clemons was appointed
president.
Weiser commented on the restructuring: "The restructuring of the board and
officers was determined to be in the best interests of the shareholders and
the company at this time. With the appointment of Richard J. Kurtz as
chairman and Larry T. Clemons as president, the company is in a better
posture for increasing shareholder value. I will be remaining on as a director
of the company and as president of the International Division. I devoted over
two years re-establishing the company, rebuilding shareholder value, and
with the support of so many others, created an entity focusing on new
technologies and markets for sealant and coating products using recycled
materials in their composition. With the appointment of Mr. Kurtz and Mr.
Clemons in their new capacities, the company will be able to continue to
broaden its scope in the roofing, waterproofing and other sealant markets."
Kurtz was previously appointed to the board and has been providing financial
support for the company's operations for the last three months. He is
president and chief executive officer of the Kamson Corp., which has its
principal executive offices located in Englewood Cliffs, N.J. Kamson Corp.
currently owns and operates sixty (60) investment properties in the
Northeastern United States. Kurtz recommended the appointment of Larry T.
Clemons as president to the board because of his integrity, sales and
marketing experience. Kurtz stated, "Mr. Clemons will lead Urecoats
Industries Inc. into new and emerging markets, create an infrastructure of
excellent management and supervise the technology of the product line that
is ready for the global marketplace."
Clemons has extensive experience in taking products from the drawing board
through prototype development on factory line, into the marketplace, and all
within short periods of time. He was responsible for the development and full
scale production of three prototype convertibles for Ford, Chevrolet and
Pontiac, two of which were implemented within one year periods. Clemons
worked for Holman Enterprises, achieved top ten sales award in the nation for
three years in a row, and directed three new divisions. Clemons worked for
ASC of Southgate, Mich. and was hand picked and hired by Industrialist of
the Year, Heinz Prechter, its chairman. In addition to his above
accomplishments, Clemons has substantial experience in the field of fine art.
The board of directors is very pleased with the present appointments.
--30--lhs/mi*
CONTACT: Winners All International Inc., Pompano Beach
Larry T. Clemons, President, 954/977-5428
Howard Weiser, International Division, 954/977-5428 Today's News On The
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