Aqua Care Announces Appointment of New Directors and New Chief Executive Officer and Resignation of Directors
Apr 12, 2001, 01:00 ET from Aqua Care Systems, Inc.
CORAL SPRINGS, Fla., April 12 /PRNewswire/ -- Aqua Care Systems, Inc. (Nasdaq: AQCR) announced today that H. Martin Jessen, Walter Neubauer and Aref Cheval have been appointed to the Company's Board of Directors to fill the vacancies created by the resignations of Norman Hoskin, James Cefaratti and David Lucas from the Board, who resigned on April 11, 2001, effective immediately. In addition, the Company also announced today that it has entered into a three-year employment agreement with Mr. Jessen, pursuant to which Mr. Jessen will serve as the Company's President and Chief Executive Officer. Messrs. Neubauer and Cheval are the principals of AV, Inc., which recently purchased 1,050,000 shares of the Company's common stock. Mr. Jessen is a former Vice President of USFilter. Messrs. Jessen's, Neubauer's and Cheval's service as directors of the Company will commence ten days after the Company complies with applicable federal securities laws by filing with the Securities and Exchange Commission and mailing to stockholders an information statement relating to the election of directors. The Company anticipates that their service will commence on or about April 24, 2001. Aqua Care Systems, Inc., based in Coral Springs, Florida, designs, manufactures and sells fluid handling, filtration and water purification systems and products. This press release contains forward-looking statements. The Company wishes to caution the reader of this press release that such forward-looking statements are subject to various known and unknown risks and uncertainties, including the possibility that the Company's stated goals will not be fulfilled in whole or in part. Additional information on factors that could potentially affect the Company's financial results may be found in the Company's filings with the Securities and Exchange Commission.
SOURCE Aqua Care Systems, Inc.
CORAL SPRINGS, Fla., April 12 /PRNewswire/ -- Aqua Care Systems, Inc. (Nasdaq: AQCR) announced today that H. Martin Jessen, Walter Neubauer and Aref Cheval have been appointed to the Company's Board of Directors to fill the vacancies created by the resignations of Norman Hoskin, James Cefaratti and David Lucas from the Board, who resigned on April 11, 2001, effective immediately. In addition, the Company also announced today that it has entered into a three-year employment agreement with Mr. Jessen, pursuant to which Mr. Jessen will serve as the Company's President and Chief Executive Officer. Messrs. Neubauer and Cheval are the principals of AV, Inc., which recently purchased 1,050,000 shares of the Company's common stock. Mr. Jessen is a former Vice President of USFilter. Messrs. Jessen's, Neubauer's and Cheval's service as directors of the Company will commence ten days after the Company complies with applicable federal securities laws by filing with the Securities and Exchange Commission and mailing to stockholders an information statement relating to the election of directors. The Company anticipates that their service will commence on or about April 24, 2001. Aqua Care Systems, Inc., based in Coral Springs, Florida, designs, manufactures and sells fluid handling, filtration and water purification systems and products. This press release contains forward-looking statements. The Company wishes to caution the reader of this press release that such forward-looking statements are subject to various known and unknown risks and uncertainties, including the possibility that the Company's stated goals will not be fulfilled in whole or in part. Additional information on factors that could potentially affect the Company's financial results may be found in the Company's filings with the Securities and Exchange Commission. SOURCE Aqua Care Systems, Inc.
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