Environmental Safeguards, Inc. Chairman Addresses Incorrect Assumption of Insider Selling
PR Newswire, Monday, August 19, 1996 at 14:18
HOUSTON, Aug. 19 /PRNewswire/ -- Environmental Safeguards, Inc.
(OTC:EVSF), Mr. James S. Percell, Chairman, President and CEO commented today
on the public investor perception that a large amount of insider selling is
taking place, "There is a vast misconception by both brokers and investors
concerning recent wire information regarding Rule 144 notices to sell EVSF
common stock. These notices are not from insiders, but from those
shareholders that have owned restricted stock for the necessary holding period
of two years or more. Some of the shareholders filing 144 notices are former
directors and officers of Environmental Safeguards, but no longer are
associated with EVSF in this capacity. Historically, the vast majority of
shares of common stock issued by the company have been restricted and
therefore it is necessary for shareholders owning restricted shares for less
than three years to file a Rule 144 notice with the SEC regarding intended
sales of these shares. It is very important that the investing community
understand that these 144 notices are not related to insider selling."
Environmental Safeguards is a recycler and remediator of hydrocarbon and
hydrocarbon derivative contaminated soil.
SOURCE Envionmental Safeguards, Inc.
-0- 08/19/96
/CONTACT: Michael M. Dunson, Chief Financial Officer of Environmental
Safeguards, Inc., 713-641-3838/
Companies or Securities discussed in this article:
SymbolNameBB:EVSFEnvironmental Safeguards Ind |
