Well, I guess I'll talk to myself for a while....
Hartcourt to Distribute Share Certificates of Enova Holdings Inc. on June 4, 1999
LOS ANGELES--(BUSINESS WIRE)--June 3, 1999--The Hartcourt Cos. Inc. (OTC BB:HRCT) Thursday announced that the printing of share certificates of Enova Holdings Inc. has been completed and that mailings to shareholders of Hartcourt of record as of March 31, 1999, will be accomplished by June 4, 1999.
Any shareholder who has not informed the company of address change should do so now by directly contacting its stock transfer agent, Signature Stock Transfer Co. Inc., at 972/788-4193.
For every four shares of Hartcourt Cos. common stock, the shareholder will receive one share of Enova common stock. The Enova shares cannot be traded until a registration statement is approved by the Securities and Exchange Commission and a trading symbol is assigned by NASD, which usually occurs within 90 days.
As a result of a spinoff, Enova owns 100 percent of Pego Systems Inc. and 35 percent of Electronic Components & Systems Inc. (ECS).
Pego is a manufacturer and distributor of industrial equipment and systems, mainly for environmental control. It had annual sales revenue of $8 million in 1998 and reports a net profit of $117,500 for the first quarter of 1999.
ECS is a contract manufacturer with plants in Arizona, California and Mexico. The company had annual sales revenue of $16 million in 1998 and has undergone a financial restructuring to enable it to become a public entity on its own by 2000.
Enova is planning to grow via acquisitions of companies relating to environmental engineering and equipment.
Just two weeks ago, President Clinton called for a renewed effort to clean up America and the world before irreversible damage is done to the environment. Vice President Gore is known as the "environmental" candidate in the upcoming presidential election. Enova plans to create a truly global company in the environmental field. |
