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Wednesday, July 13, 2005 09:58 ET
Reality Wireless Networks, Inc. (RWNW) and Arabian Recab Trading Company ("ARTC") jointly announced that they have entered into a letter of intent proposing a merger whereby Reality would issue common stock for all the issued and outstanding shares and interests of ARTC. ARTC (and its predecessor organization) is a 25 year old Saudi Arabian company focused primarily on the transportation industry. For the year ended December 31, 2004, ARTC generated more than 111,750,000 Saudi Riyal (approximately $29M).
The companies intend that following the closing of the transaction, Reality will change its name to Recab International, Inc. The proposed transaction is subject to customary closing conditions, including approval from Reality's and ARTC's stockholders
الارتفاع حصل بعـد نشر الشركة لخبر عن نية اندماج ( لازالت - مجرد نية )
مع شركة نقل سعـودية ( شركة الركاب العـربية )
عمرها في السوق ( 25 عام ) - و كان دخلها خلال العام الماضي
حوالي ( 112 مليون ريال سعـودي )
اتمام الصفقة سيكون مقابل اصدار اسهم
يلي ذلك تغـيـيـر مسمى الشركة بعـد الاندماج ( اذا تم )
الى - Recab International, Inc