To: Buckey who wrote (168 ) 8/4/1999 10:19:00 AM From: Wizzer Respond to of 238
NR: Reclamation Management Ltd - Reclamation receives proposal from Hilips e-Commerce Reclamation Management Ltd RMLL Shares issued 101,261,627 1999-07-30 close $0.095 Tuesday Aug 3 1999 Mr. Cir Boinstree reports Hilips e-Commerce PLC has submitted a proposal to the board of directors of Reclamation Management Limited with the objective of negotiating an agreement to acquire, in a cash transaction, the remaining 92 per cent of shares of Reclamation Management Limited that it doesn't already own at a price of $17.7-million (GBP) british pounds/$43.6-million (Canadian) or 40 cents per share in cash. "This proposed acquisition is consistent with our strategy of looking for acquisitions, which strengthen the existing portfolio of the company, and also strengthen our presence in the European Internet market," said Cir Boinstree, president and chief executive officer of Hilips e-Commerce PLC. "We are very excited about the opportunity to add Reclamation Management Limited and its outstanding technology, expertise and talented employee base as a cornerstone of our growth strategy for Hilips e-Commerce PLC, U.K., in Europe." "With complementary technology and almost no overlap, Reclamation Management Limited (Euro-net Investments Limited) will be a platform for Hilips e-Commerce PLC, U.K., further expansion in Europe and an important element of our strategy to be a leading global supplier of Internet services technology in Europe," added Arthur van der Piil, vice-president of Hilips e-Commerce PLC, U.K. Hilips e-Commerce PLC, U.K., is privately held company of the Boinstree family of London, England. Hilips e-Commerce PLC, U.K., and other subsidiaries employ 400 people in the United Kingdom and Ireland. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)