Navigation Links
Friendly LRL Holdings Terminates Offer To Acquire Startech Environmental Corporation
Date:9/11/2009

GENEVA, Sept. 11 /PRNewswire/ -- Friendly LRL Holdings LLC ("FLH") today announced that it has terminated its previously-announced tender offer to acquire all of the outstanding shares of common stock of Startech Environmental Corporation (OTC Bulletin Board: STHK) ("Startech"), effective immediately. FLH's offer was scheduled to expire at 11:59 pm, New York City time, on Wednesday, September 30, 2009. All shares previously tendered pursuant to the tender offer and not withdrawn will be promptly returned to the tendering shareholders.

Sergey Mitirev of FLH commented, "We wish to thank all shareholders who considered our offer and tendered their shares. We are surprised and disappointed that Startech's Board chose not to engage in any constructive discussions with us regarding our offer. We repeatedly stated that time was of the essence with respect to consummation of our offer. Yet, Startech's Board obstructed our offer for months by failing to meet with us or provide us with any information regarding Startech's business and by adopting a poison pill and later extending the expiration date of the poison pill, effectively further entrenching its own position."

Dmitry Timoshin of FLH noted, "We would like to thank the numerous shareholders who have supported our offer, and we share their disappointment with this outcome. We regret that Startech shareholders will not be able to participate in what would have been a compelling opportunity to receive significant, immediate value. While we are terminating our tender offer, we remain intrigued by the plasma technologies that have been developed by Startech and others in the industry, as well as the potential applications of that technology in a variety of sectors."

Because the tender offer has been terminated, the tender offer consideration will not be paid or become payable to any holder of Startech shares. FLH is not accepting for payment any shares that have been tendered, and such shares will be returned promptly, without expense, to the holders who have tendered such shares (or, in the case of shares tendered by book-entry transfer through DTC, such shares will be credited to the proper account maintained with DTC). Accordingly, no shares should be tendered to FLH and, if tendered, such shares will not be accepted and will be promptly returned to the tendering shareholder.

    Contact:
    Morrow & Co., LLC (Information Agent for the offer)
    Stamford, CT
    (800) 607-0088 or (203) 658-9400

DISCLAIMER: CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS. Statements in this press release that are not historical facts are "forward-looking statements". Such forward-looking statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. This press release speaks only as of its date, and FLH and its affiliates undertake no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.

ADDITIONAL INFORMATION AND WHERE TO FIND IT. This announcement is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell securities. The terminated tender offer was made pursuant to a tender offer statement on Schedule TO (including the Offer to Purchase, Letter of Transmittal and other related tender offer materials), as amended, initially filed by FLH and its affiliates with the SEC on July 6, 2009. The tender offer statement (and related materials), as amended, contain important information that should be read carefully. These materials may be obtained for no charge upon request to Morrow & Co., LLC, the information agent for the tender offer, by calling toll-free at 1-800-607-0088. In addition, these materials (and all other offer documents filed with the SEC) are available at no charge on the SEC's Web site at www.sec.gov.


'/>"/>
SOURCE Friendly LRL Holdings LLC
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. University of Leicester scientists discover technique to help friendly bacteria
2. Roche and Genentech Reach a Friendly Agreement to Combine the Two Organizations and Create a Leader in Healthcare Innovation
3. Just Say No To Charcoal! New Eco-Friendly Alternative Grills Faster, Burns Cleaner And Greener
4. Advanced Instruments Introduces 2020-BIO Multi-Sample Osmometer as First True Automation-Friendly Osmometer for the Biopharmaceutical Industry
5. Regional Biotech Association Warns Legislation Would Make VT Least Friendly State in Nation for Biotechnology and Life Sciences
6. MEDS World, LLC Provides Multiple Environments with Designed Solutions - Wherever People Congregate, MEDS Odor Elimination Solutions Offer Eco-Friendly, Odor-Free Air
7. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
8. Tutogen Medical, Inc. and Zimmer Holdings, Inc. Announce Agreement for International Distribution of Biological Products
9. Lixte Biotechnology Holdings, Inc. Announces the Initial Trading of Its Common Stock Under the Symbol: LIXT
10. Zimmer Holdings Announces Support for Elimination of Super-Majority Voting Requirements
11. China Biopharmaceuticals Holdings Announces Third Quarter 2007 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... ... October 12, 2017 , ... BioMedGPS announces expanded coverage ... its newest module, US Hemostats & Sealants. , SmartTRAK’s US Market for Hemostats ... sealants, synthetic sealants and biologic sealants used in surgical applications. BioMedGPS estimates the ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... first-ever genomics analysis platform specifically designed for life science researchers to analyze ... pioneering researcher Rosalind Franklin, who made a major contribution to the discovery ...
(Date:10/11/2017)... ... October 11, 2017 , ... The CRISPR-Cas9 ... overexpression experiments and avoiding the use of exogenous expression plasmids. The simplicity of ... performing systematic gain-of-function studies. , This complement to loss-of-function studies, such as ...
(Date:10/11/2017)... ... 2017 , ... ComplianceOnline’s Medical Device Summit is back for its 4th year. ... San Francisco, CA. The Summit brings together current and former FDA office bearers, regulators, ... government officials from around the world to address key issues in device compliance, quality ...
Breaking Biology Technology:
(Date:5/16/2017)... N.J. , May 16, 2017  Veratad Technologies, ... provider of online age and identity verification solutions, announced ... K(NO)W Identity Conference 2017, May 15 thru May 17, ... Regan Building and International Trade Center. ... the globe and in today,s quickly evolving digital world, ...
(Date:4/19/2017)... 2017 The global military biometrics ... marked by the presence of several large global players. ... five major players - 3M Cogent, NEC Corporation, M2SYS ... nearly 61% of the global military biometric market in ... global military biometrics market boast global presence, which has ...
(Date:4/13/2017)... India , April 13, 2017 According to ... Proofing, Identity Authentication, Identity Analytics, Identity Administration, and Authorization), Service, Authentication Type, ... MarketsandMarkets™, the IAM Market is expected to grow from USD 14.30 Billion ... Growth Rate (CAGR) of 17.3%. ... MarketsandMarkets ...
Breaking Biology News(10 mins):