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Tracking 1053 U.S. listed China Stocks and Counting...
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Kent Intl (PINK:KNTH)
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Going Private News
Liquidity Requirements
Sunday, December 11, 2011
Going Private News
This Final Amendment to Rule
13e-3 Transaction Statement on Schedule 13E-3
(the “Final Schedule 13E-3”) is being filed by Kent International Holdings, Inc., a Nevada corporation (“Kent”, the “Company”, “we”, or “our”), Kent Financial Services, Inc., a Nevada corporation (“Kent Financial”), Paul O. Koether and Bryan P. Healey in connection with a “
going private”
transaction.
The fairness of the cash consideration offered in this transaction has been approved by a Special Committee (the “Special Committee”) established by our Board of Directors. The Special Committee consists of Rocco Mastrodomenico and Diarmuid Boran. This transaction has been approved by our Board of Directors. The
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Tuesday, August 23, 2011
Going Private News
(Colleyville, Texas)
Kent International Holdings Inc.
(Pink Sheets: KNTH) (the “Company” or “KNTH”) announced today that on August 22, 2011, it filed its Schedule 14C Preliminary Information Statement with the United States Securities and Exchange Commission (the “SEC”) in connection with a proposed “going private” transaction. The proposed transaction involves an amendment to the Company’s Articles of Incorporation to effect a one-for-950,000 reverse stock split.
If implemented, fractional shares will be redeemed by the Company for cash consideration of $2.50 per pre-split share.
The reverse stock split will be effective upon the filing of a Certificate of Amendment to the Company’s Articles of Incorporation with the Secretary of State of Nevada, which the Company estimates to occur in October 2011. The Company intends to terminate the registration of its common stock under the Securities Exchange Act of 1934, and thereby end the Company’s reporting obligations as a public company under the United States securities laws, including the filing of annual and periodic reports under Section 13 of the Exchange Act.
The reverse stock split and the purchase of fractional shares have been approved by the sole stockholder, Kent Financial Services, Inc., which owns a majority of the issued and outstanding shares of the Company. This majority stockholders’ approval has been reported in the Schedule 14C Preliminary Information Statement filed with the SEC on August 22, 2011. No further stockholder proxies or stockholder approval will be required.
Nevertheless, the Company may abandon the reverse stock split or change the ratio of the reverse stock split before the Closing, if abandoning or modifying the terms of the reverse stock split is in the best interests of the Company and the best interests of the stockholders.
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Friday, May 27, 2011
Liquidity Requirements
We are actively pursuing a commercial mortgage loan on the Property at prevailing terms in order to free up working capital for additional acquisitions; however, at this time we are uncertain whether any mortgage will be approved or what terms may be offered. Although the Company does not have any established banking relationships or other sources of liquidity, management believes its cash and cash equivalents
are sufficient
for its business activities for at least the next 12 months and for making additional acquisitions.
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