Subject: [NEXTEL-1] Premiere stockholders OKs purchase of Nextmobile

From: [email-masked]
Date: Mon, 27 Oct 2003 22:00:39 -0500

Premiere stockholders OKs purchase of Nextmobile
Posted: 4:26 PM | Oct. 27, 2003

AFX
PREMIERE Entertainment Productions Inc. said its stockholders approved the
purchase of a controlling stake in Next Mobile Inc., which is engaged in the
management and operation of the Nextel Radio-Phone Network.
In a disclosure to the stock exchange, Premiere Entertainment said its
stockholders also approved the change in the company's primary purpose to
telecommunications, and its change in name to "Net Communications Inc."

Shareholders have also given their go-ahead to the decrease in the company's
authorized capital stock to 500 million pesos from one billion, by reducing the
par value of common shares to 50 centavos from one pesos each.

The company, as approved by shareholders, will then increase its authorized
capital stock to seven billion pesos from 500 million, divided into 14 billion
common shares at a par value of 50 centavos each.
"In relation to the amendments, the stockholders approved the acquisition of a
controlling interest of about 97 percent of Next Mobile in exchange for shares of
stock of Premiere Entertainment to be taken from the increase in capital stock,"
Premiere Entertainment said.

http://money.inq7.net/breakingnews/view_breakingnews.php?yyyy=2003&mon=10&dd=27&file=9

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