NIS Holdings Corp. Sells to Global Stock Investments Ltd a Controlling Interest in the Company But Rejects the Buyout Offer
NEW YORK, N.Y., Sept. 6, 2011 /PRNewswire/ -- NIS Holdings Corp. (OTC: NISC) announces that after a series of meetings that took place in London during the last month, its management team did not agree with Global Stock Investments Ltd's managers on their buyout offer which would provide them the opportunity to have a 100% controlling percentage on NIS Holdings Corp. The reasons for this failure arose because Global Stock Investments Ltd withdrew its initial offer and came up with a new lower one, after the poor performance of the share price during the last period, which the Company couldn't accept.
Furthermore, the Company discloses more information on the context of the equity facility agreement signed between the two parts in June. In exchange for the offering funding to NIS Holdings, Global Stock Investments Ltd will have so many additional shares issued (restricted) that will enable it to have a controlling interest in the Company. As mentioned in a previous press release, the funding will be received in tranches of up to $250,000 per drawdown, whenever needed, in a total of approximately $3 million, to be used for expenses associated with its ongoing business operations. The funding transactions will be advanced in stages depending on achieving specified targets.
President of NIS Holdings Chris Kiltsikis stated "Our board has carefully considered Global Stock Investments Ltd's revised offer and concluded that it is insufficient and unlikely to be completed. However, after the exercise of the equity facility agreement, we are both glad that all available funds will be used on the realization of NIS Holdings' business plan. This deal secures stable and recurring cash flow for the company's operations for multiple years. Investors who believe in our efforts and support us will be eventually much more benefitted."
About NIS Holdings Corporation
NIS Holdings Corp. is registered in Reno, Nevada and headquartered in New York City. The Company specializes in the acquisition of firms in profitable markets with high-potential and capable of achieving sustainable growth.
NIS Holdings is a public company trading on the OTC under the symbol NISC.
About Global Stock Investments Ltd
Global Stock Investments Ltd, based in London, is an independent investment firm which specializes in private equity fund management. It has established an exceptional investment reputation throughout the world by managing a number of funds, each with a distinct, clearly defined geographic and investment focal point, propping up the regional expansion of businesses all around the world.
For further information in this release please contact Ms. Vassiliki Anagnostou at NIS Holdings, Corp. on tel.: 212-6881007, e-mail: [email protected]
This document was produced by and the opinions expressed are those of NIS Holdings Corp. as of the date of writing and are subject to change without obligation to update. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of NIS Holdings Corp. to any person to buy or sell any security. Any reference to past performance is not a guide to future performance. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but NIS Holdings Corp. does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
This release may contain forward-looking statements, including, without limitation, statements containing the words "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," "could," "stands to," and "continues," as well as similar expressions. Such forward- looking statements may involve known and unknown risks, uncertainties and other factors which might cause the actual results, financial condition, performance or achievements of NIS Holdings Corp., or industry results, to be materially different from any historic or future results, financial conditions, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. NIS Holdings Corp. expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, unless required by law or regulation.
SOURCE NIS Holdings Corp.
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