TNRG good things happening 2 new news
NEW YORK, July 30 /PRNewswire/ -- Tianrong Building Material Holdings, Ltd.
(0TC Bulletin Board: TNRG) today clarified the procedures which TNRG intends
to put into effect for its rights offering (see TNRG press release dated July
29, 1999 announcing the rights offering).
Each TNRG shareholder who is the record owner of four TNRG shares on the
record date of August 19, 1999 will receive, thereafter, documents from the
Company granting such shareholder the right to purchase one share of common
stock of the Company's subsidiary Tianrong Internet Products and Services,
Inc. (OTC Bulletin Board: TIPS) for $.01 (one cent). The right so granted
will be exempt from registration as will the shares of TIPS if ever
purchased. Shareholders who purchase the TIPS shares will receive
certificates bearing restrictive legend and such shares will be subject to,
among other things, SEC Rule 144 for resale into the public market.
The rights granted to shareholders of record will not be assignable and will
expire if not exercised within 60 days of the distribution of the material.
James Tilton, President of TNRG, stated, "The Company decided to cancel the
previously announced TIPS stock dividend replacing it with this rights
offering in order to 'get the shares' into our shareholders' hands as quickly
as possible. This decision was occasioned by the Company's realization that
the dividend, and the inherent registration process thereof, might take many
months until completed." Mr. Tilton added, "No Company can afford to lose
the confidence of its shareholders. Our Board promised a dividend -- timing
preempts that possibility -- and this is the most efficacious and expeditious
method available."
TNRG is a business development company that has set as its goal the
acquisition of businesses in numerous industries and plans to apply
Tianrong's management expertise to quickly grow value in the acquired
businesses. Tianrong has announced future stock dividends in three
subsidiaries and on a long-term basis may elect to issue stock dividends in
other subsidiaries.
For further information contact investor relations at 212-398-7833 or visit:
tnrg.com.
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, which are intended to be covered
by the safe harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainties, including,
without limitation, the ability of Tianrong Building Material Holdings to
accomplish its stated plan of business. Tianrong Building Material Holdings
believes that the assumptions underlying the forward-looking statements
contained herein are reasonable, any of the assumptions could be inaccurate,
and, therefore, there can be no assurance that the forward-looking statements
included in this press release will prove to be accurate. In light of the
significant uncertainties inherent in the forward-looking statements included
herein, the inclusion of such information should not be regarded as a
representation by Tianrong Building Material Holdings or any other person
that the objectives and plans of Tianrong Building Material Holdings will be
achieved.
SOURCE Tianrong Building Material Holdings, Ltd.
CO: Tianrong Building Material Holdings, Ltd.; Tianrong Internet
Products and Services, Inc.
ST: New York
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News Published By: PR Newswire
Headline: Tianrong Announces Completion of First Phase of CD-ROM Interactive
Game
NEW YORK, Aug. 5 /PRNewswire/ -- Tianrong Building Material
Holdings, Ltd (BB: TNRG) announced today that it has completed the first
phase of its CD-ROM game based on the legend of the lost continent of
Atlantis has been completed. The graphics are three dimensional and the
game is interactive.
Viewers can access this phase by visiting
tnrg.com.
The Company intends to market the game directly and through selected
stores. The Company intends to have the game available for the
Christmas rush.
James Tilton, President of TNRG, stated, "We are committed to making
this CD-ROM game fun, exciting, educational and action packed. In the
opinion of the Company, it will be a state-of-the-art game like none
ever before."
Tianrong Building Material Holdings, Ltd. is a business development
company that has set as its goal the acquisition of businesses in
numerous industries and plans to apply Tianrong's management expertise
to quickly grow value in the acquired businesses. Tianrong has announced
future stock dividends in three subsidiaries and on a long-term basis
may elect to issue stock dividends in other subsidiaries.
For further information contact investor relations at 212-398-7833
or visit: tnrg.com.
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, which
are intended to be covered by the safe harbors created thereby.
Investors are cautioned that all forward-looking statements involve
risks and uncertainties, including, without limitation, the ability of
Tianrong Building Material Holdings to accomplish its stated plan of
business. Tianrong Building Material Holdings believes that the
assumptions underlying the forward-looking statements contained herein
are reasonable, any of the assumptions could be inaccurate, and,
therefore, there can be no assurance that the forward-looking statements
included in this press release will prove to be accurate. In light of
the significant uncertainties inherent in the forward-looking statements
included herein, the inclusion of such information should not be
regarded as a representation by Tianrong Building Material Holdings or
any other person that the objectives and plans of Tianrong Building
Material Holdings will be achieved.
SOURCE Tianrong Building Material Holdings, Ltd
-0- 08/05/99
/CONTACT: Investor Relations, 212-398-7833, for Tianrong Building
Material Holdings, Ltd/
/Web site: tnrg.com |
