A little more detail on yesterdays news...
UNIQUE MOBILITY INC rpts important event.
Excerpted from 8-K filed on 05/11 by UNIQUE MOBILITY INC:
May 11, 1999 17:00
UNIQUE MOBILITY INC rpts important event.
ITEM 5. OTHER EVENTS
On May 10, 1999, Unique Mobility, Inc. ("Unique"), Energy Conversion Devices
("ECD") and EV Global Motors Company ("EVG) formed a German private company,
Unique Mobility Europa GmbH ("UME"), to manufacture battery-electric,
hybrid-electric and fuel cell-electric vehicles. UME is headquartered in
Mittweida, near Leipzig, in the Free State of Saxony, Germany.
UME's planned initial product offerings are expected to be a battery-electric
(zero emission) two-passenger cargo van and a six-passenger commuter van. The
vehicle design was developed in cooperation with Storz Design of Zel am See,
Austria, with engineering support by Design and Concepts Engineering of Bosau,
Germany.
UME has been initially capitalized with DM50,000 cash and a contribution to
surplus of 625,000 shares of Unique's common stock. Of the stock contribution,
208,333 shares were contributed by each of ECD and Unique, 118,750 shares by
EVG and 89,584 shares by Haco Trading Ltd. ("HACO"), an investment fund.
The shares contributed by Unique were newly issued shares. The shares
contributed by ECD and EVG were previously acquired, in privately negotiated
transactions. The shares contributed by HACO were purchased on the open market.
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