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Article: Box Hill Systems Corp. Purchases Box Hill Systems Europe Limited
- Article from:
- PR Newswire
- Article date:
- June 19, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, June 19 /PRNewswire/ -- Box Hill Systems Corp. (NYSE: BXH) announced today that it has purchased all of the outstanding common stock of Box Hill Systems Europe Limited. In exchange, Box Hill issued 4,959 shares of common stock valued at $51,750 U.S. dollars. The market value of the shares were determined as of the effective date of the purchase, Dec. 31, 1997, and is equal to the net assets of Box Hill Systems Europe on that date.
With more than 14,290,000 shares outstanding, the purchase dilutes Box Hill's existing stock by less than .035%. "Because the number of shares involved in this transaction is small, the dilutive effect of the purchase on Box ...