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Fragrance Express Inc. Announces That Merger Will Not Interfere With Recourse Against CUSIP
Business Wire, Oct 5, 1998
POMPANO BEACH, Fla.--(BUSINESS WIRE)--Oct. 5, 1998--President and CEO of Fragrance Express Inc. (OTC BB:FGRX), Robert M. Bartlett, stated Monday: "We have had a lot of phone inquiries today about the CUSIP situation. The upcoming merger with National Boston will not impede any recourse our stockholders and the company has against CUSIP for their error. I need to reiterate that the company's present CUSIP number is correct.
"Also, I want to point out that the company has published its financial information in Standard and Poor's Corporate Records. With a $2.93 per share book value, as published, today's activity is heading in the right direction."
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Daniel Hoyng, president of National Boston stated: "I back Bob and the shareholders 100%. All appropriate avenues will be followed to conclusion. I look forward to a long lasting relationship with Bob and Fragrance Express."
A company spokesperson has released that the company has received from one of its lenders a re-commitment for a $10 million line of credit.
This line of credit can be utilized for both Fragrance Express Inc. and National Boston.
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