TEMECULA, Calif., July 7, 2004 (PRIMEZONE) -- Nicholas Investment Company, Inc. (Pink Sheets:NIVM) today announced that it has filed a 14C Definitive Information Statement with the Securities and Exchange Commission for the purpose of informing shareholders about the special meeting of shareholders held on June 14, 2004 to approve the sale of up to 100% of the stock of Nicholas to YaSheng Group, as well as to provide additional information relative to the process of tendering shares of NIVM for shares of YaSheng Group.
Principal Shareholders representing fifty-four percent (54%) of the shares of common stock outstanding as of June 14, 2004 were either present at the meeting or voted in absentia. All of the Principal Shareholders voted in favor of the proposal. A copy of the 14C Definitive Information Statement will be mailed to all shareholders of record as of July 6, 2004.
The Information Statement informs shareholders that upon the close of the acquisition of Nicholas by YaSheng Group, expected to be on or about July 15, 2004, shareholders will no longer be able to trade their common stock under the name Nicholas Investment Company or under the trading symbol "NIVM." Shares of Nicholas Investment Company tendered for exchange will be exchanged for shares of YaSheng Group. Any stockholders who own shares of NIVM that are currently restricted from transfer will receive shares of YaSheng Group that maintain those same restrictions.
Shareholders wishing to take part in the exchange must present a physical certificate evidencing shares of common stock properly endorsed, along with their respective address and their tax identification number to Nicholas in order to receive new shares of YaSheng. No shares will be accepted for exchange while such shares are held in the name of Cede & Co. or any other clearing firm but only shares that are registered in the name of the beneficial owners.
Steven R. Peacock, President and Chairman of Nicholas Investment Company, commented, "While the tendering process may appear a bit tedious, it is in the best interest of all Nicholas shareholders to require any short positions in NIVM to be covered before trading ceases and the exchanging of shares into YaSheng Group commences.
"The rate of exchange for the stock for stock transaction, which will ultimately establish how many shares of YaSheng stock each Nicholas shareholder will receive, will be determined in the coming days and disclosed at the close of the acquisition. Meanwhile, we are extremely pleased at the progress that has been made thus far in strategizing a seamless transition of Nicholas and its two operating subsidiaries into subsidiaries of YaSheng. We look forward to contributing any and all of Nicholas' available resources to be a part of the future success of YaSheng Group in the U.S.," added Mr. Peacock.
About Nicholas Investment Company
Nicholas Investment Company, Inc. is a closed-end fund with a 2004 first quarter net profit of $1.2 million and net assets of over $1.8 million for the same period. The company has acquired 100% of Javelin Holdings, Inc. (www.javelinholdings.com), a small business consulting and investment banking firm, and 95% of SINO UJE (www.sinouje.com), a non-stocking distributor that sells and services western-manufactured high-tech products to markets throughout China. For more information on the Company and its Fund Portfolio or to sign up for the Company's mailing list, please visit, www.nicholasinvestments.com.
All statements included in this release, including statements regarding potential future plans and objectives of Nicholas Investment Company, Inc. are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond Nicholas Investment Company, Inc.'s control. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially depending on many factors. Nicholas Investment Company, Inc. cautions that historical results are not necessarily indicative of the future performance.