Amadeusz Juskowiak

Computer terminal systems cpml completes sale

Computer Terminal Systems Inc said it has completed the sale of 200000 shares of its common stock and warrants to acquire an additional one mln shares to Sedio NV of Lugano Switzerland for 50000 dlrs

The company said the warrants are exercisable for five years at a purchase price of 125 dlrs per share

Computer Terminal said Sedio also has the right to buy additional shares and increase its total holdings up to 40 pct of the Computer Terminals outstanding common stock under certain circumstances involving change of control at the company

The company said if the conditions occur the warrants would be exercisable at a price equal to 75 pct of its common stocks market price at the time not to exceed 150 dlrs per share

Computer Terminal also said it sold the technolgy rights to its Dot Matrix impact technology including any future improvements to Woodco Inc of Houston Tex for 200000 dlrs But it said it would continue to be the exclusive worldwide licensee of the technology for Woodco

The company said the moves were part of its reorganization plan and would help pay current operation costs and ensure product delivery

Computer Terminal makes computer generated labels forms tags and ticket printers and terminals