Environmental Infrastructure Holdings Announces Lock Up Agreement Representing 36 Million Shares of the Company's 83 Million Tot
07 June 2011 - 11:45PM
Marketwired
Environmental Infrastructure Holdings Corp (OTCBB: EIHC) today
announced that its Board of Directors and executive officers have
entered into a three month lock-up agreement as of June 3, 2011
which will effectively lock up a total of 36 million shares of the
Company's stock owned by them collectively or 43% of the Company's
83 million total shares outstanding for the period commencing as of
June 1, 2011 until September 1, 2011 with the option to extend the
period. The Agreement provides that each Director and Officer will
not directly or indirectly trade or sell or otherwise transact
their portion of the 36 million common shares of the Company for
the stated period. One exception has been made in behalf of the
Company's President, Kurt Given, whose lock up allows him to sell
as of July 1, 2011 a limit of $1000 per day in Company shares up to
700,000 common stock shares for accumulated deferred compensation.
"The purpose of the lock up agreement is to foster long term
interest in our stock among our existing and new shareholders and
investors. Management and our Board are strongly committed to our
acquisition model and long term growth," said Michael Parrish,
Company Chairman.
Kurt Given, President of the Company's wholly owned subsidiary,
Equisol LLC, stated, "As CEO and co-founder of Equisol LLC, I have
made a long term personal and professional commitment to the
success of Equisol and our parent company, Environmental
Infrastructure Holdings Corp.. With the recent acquisition of Tower
Turbines Inc. we are continuing to meet the mandate of our
acquisition model and we are confident that the potential revenue
opportunity over $62 million as projected by the former owners of
Tower Turbines Inc. over the next four years is genuinely within
our reach."
About Environmental Infrastructure Holdings
Corp.
Environmental Infrastructure Holdings (OTCBB: EIHC) is the
parent company of diverse environmental manufacturing, engineering
and services companies. Currently, EIHC has one subsidiary,
Equisol, LLC, as well as investments in various joint ventures and
partnerships.
Recognized in 2008 by INC Magazine as the 7th fastest growing
private environmental services company in America, Equisol, LLC, is
a unique equipment solutions provider specializing in the water and
wastewater industry. Its team of top-rated engineers specializes in
automation equipment and services across multiple industries where
water use and automation are important.
Forward-Looking Statements
This press release contains forward-looking statements, which
represent the Company's expectations or beliefs, including, but not
limited to, statements concerning plans, acquisitions, new product
development, growth and strategies, which include, without
limitation, statements preceded or followed by or that include the
words may, will, expect, anticipate, intend, could, estimate, or
continue or the negative or other variations thereof or comparable
terminology. Any statements contained in this press release that
are not statements of historical fact may be deemed to be
forward-looking statements. These statements by their nature
involve substantial risks and uncertainties, some of which are
beyond the Company's control, and actual results. Readers should
carefully review the risk factors described in other documents the
Company files from time to time with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for
the year ended December 31, 2010, Quarterly Reports on Form 10-Q,
and Current Reports on Form 8-K.
Investor Contact: EQUISOL, LLC 866-629-7646
www.equisolgroup.com
Environmental Infrastruc... (CE) (USOTC:EIHC)
Historical Stock Chart
From May 2024 to Jun 2024
Environmental Infrastruc... (CE) (USOTC:EIHC)
Historical Stock Chart
From Jun 2023 to Jun 2024