ORLANDO, Fla., May 29, 2009 (GLOBE NEWSWIRE) -- Insight Management Corporation, Inc. (OTCBB:ISIM) (the "Company") is pleased to announce that it has completed the necessary filings for listing on the Frankfurt Stock Exchange in Germany.
FWB(r) Frankfurter Wertpapierborse (the Frankfurt Stock Exchange) is one of the world's largest trading centers for securities. With a share in turnover of more than 90 percent, it is the largest of Germany's seven stock exchanges. Deutsche Borse AG operates the Frankfurt Stock Exchange, which is an entity under public law. It ensures the smooth functioning of exchange trading in Frankfurt.
The Frankfurt Stock Exchange is an international trading center. The Exchange facilitates advanced electronic trading, settlement and information systems. More specifically, it is able to meet the steadily growing requirements of cross-border trading. Besides traditional floor trading, it has a fully electronic trading system, Xetra(r), that is one of the leading electronic trading platforms in the world. With its launch in 1997, the Frankfurt Stock Exchange succeeded not only in strengthening its own competitive position. It also created attractive framework conditions for foreign investors and market participants.
Previously, on April 24, 2009, Insight Management and Microresearch Corporation of Orcutt, CA, announced a definitive merger agreement under which MCEA will become a subsidiary of ISIM. Pursuant to the agreement, MCEA shareholders will receive 1.5 ISIM shares for each share they own in MCEA. This exchange shall be automatic once the conditions of the definitive agreement are satisfied. Prior ISIM shareholders will not change their holdings in ISIM. Microresearch President and CEO, Jennifer Rapacki, will lead Insight Management Corporation.
Insight will provide technology, products, and services in the U.S. domestic oil and gas industry. Microresearch previously announced on March 6th of 2009, that it signed a contract to purchase Rebel Testing, Inc. (RTI), of Gillette, Wyoming. Rebel, which has been in business for over eighteen years, employs twenty personnel, and is a leading Rocky Mountain regional oil and gas service provider. RTI's 2008 revenues were $3.4 million with 32% net profit. The company maintains a fleet of pump hoist trucks to service natural gas well pumps, and services and pressure tests blow out preventers. Customers include, among others, two Fortune 500 oil and gas corporations.
Jennifer Rapacki, President/CEO of Microresearch and future President/CEO of ISIM, commented, "We have looked at numerous situations to potentially increase shareholder value and we feel that the move to a world class exchange like the Frankfurt Exchange will provide Insight Management and its subsidiaries a robust financial vehicle with a strong market presence in the most environmentally proactive country on earth."
About Insight Management Corporation
Insight Management Corporation (ISIM) is a public holding company whose core business is focused in the oil and gas industry. The company has a strategic plan for growth through acquisition and functions from the perspective of an engineering firm. This is the nucleolus that directs what acquisitions are made and creates strategic alliances, develops proprietary technology and patents that bring the expertise and ultimately creates the real value for Insight Management. The Company expects to retain the strong management teams in each business unit, capitalizing on their local knowledge of competitors and operating climate, along with their loyal customer relationships.
The Insight Management Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6226
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. ISIM has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the ISIM's current beliefs and are based upon information currently available to it.
Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the ISIM's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. ISIM undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
Internet: www.insightmanagementcorp.com