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COMPUTER TERMINAL SYSTEMS <CPML> COMPLETES SALE |
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Computer Terminal Systems Inc said |
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it has completed the sale of 200,000 shares of its common |
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stock, and warrants to acquire an additional one mln shares, to |
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<Sedio N.V.> of Lugano, Switzerland for 50,000 dlrs. |
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The company said the warrants are exercisable for five |
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years at a purchase price of .125 dlrs per share. |
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Computer Terminal said Sedio also has the right to buy |
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additional shares and increase its total holdings up to 40 pct |
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of the Computer Terminal's outstanding common stock under |
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certain circumstances involving change of control at the |
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company. |
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The company said if the conditions occur the warrants would |
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be exercisable at a price equal to 75 pct of its common stock's |
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market price at the time, not to exceed 1.50 dlrs per share. |
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Computer Terminal also said it sold the technolgy rights to |
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its Dot Matrix impact technology, including any future |
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improvements, to <Woodco Inc> of Houston, Tex. for 200,000 |
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dlrs. But, it said it would continue to be the exclusive |
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worldwide licensee of the technology for Woodco. |
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The company said the moves were part of its reorganization |
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plan and would help pay current operation costs and ensure |
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product delivery. |
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Computer Terminal makes computer generated labels, forms, |
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tags and ticket printers and terminals. |
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