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SE
Global Equities Corp. (OTCBB: SEGB), a provider
of direct access trading software and financial
resources for international investors, today
announced that it has entered into a non- binding
Letter of Intent to acquire a U.S. registered
broker-dealer based in Florida. The target company
focuses on providing brokerage services to active
traders, and had unaudited revenues for the
quarter ending March 31st, 2001 of $523,000.
The Letter of Intent provides for an ongoing
consulting agreement between the current parent
of the target company and SE Global Equities
Corp. under which the parent will assist and
perform certain administrative functions on
behalf of the target company on a post-acquisition
basis in consideration of an annual fee.
“Along
with the pending acquisition of the broker-dealer
firm, Global American Investments, Inc., the
successful completion of this second acquisition
by SE Global Equities Corp. is intended to provide
the company with economies of scale in pricing,
and flexibility in service, software and clearing
options for prospective and current clients,”
said Toby Chu, President & CEO of SE Global
Equities Corp. “We believe that having a solid
presence in the U.S. market will assist SE Global
in offering some exciting and innovative options
to our network of international brokers.”
The
transaction is subject to certain closing conditions,
including entering into a definitive agreement,
the approval of the SE Global and the target
company’s Boards of Directors, the target company’s
shareholders, the NASD and any other regulatory
authorities having jurisdiction over the transaction.
Further details will be released upon completion
of the acquisition.
About
SE Global Equities Corp.
SE Global Equities Corp. is a provider of direct
access trading software and financial resources
for international investors. SE Global provides
direct access trading software and market data
through a formal licensing and worldwide distribution
agreement with Direct Access Financial Corporation.
Through an agreement with Trade Direct USA Inc.,
SE Global Trade(TM) users are provided with
trade execution and support services through
Allen Douglas Direct Inc. and clearing services
from Penson Financial Services Inc.
Through
SE Global's international financial website
at www.SEGlobal.com, SE Global members are provided
with access to its global alliance network of
27 independent brokerage firms covering 26 stock
exchanges spanning five continents. SE Global
is not a securities dealer in its own right
and has not sought such registration. All trade
execution and support services are provided
by the individual alliance broker in compliance
with local regulatory requirements. Not all
securities, products or services described are
available in all countries, and nothing herein
is an offer or solicitation of securities products
and services in any jurisdiction where their
offer or sale is not qualified or exempt from
registration.
Legal Notice Regarding Forward-Looking Statements
Statements in this press release which are not
purely historical are forward-looking statements,
including any statements regarding beliefs,
plans, expectations or intentions regarding
the future. Forward-looking statements in this
release include but are not limited to: SE Global’s
intention to directly or indirectly enter into
a consulting agreement with the parent for the
provision of services to the target company
assuming that the acquisition of the target
company by SE Global is completed; our belief
that the pending acquisitions of Global American
Investments, Inc. and the target company will
provide economies of scale in pricing, and flexibility
in service, software and clearing options for
prospective and current clients; and our belief
that having a solid presence in the U.S. market
will assist SE Global in offering some exciting
and innovative options to our network of international
brokers; and that SE Global will complete the
acquisition of Global American Investments,
Inc.
It is important to note that the Company’s actual
results and outcomes may differ materially from
those contained in the forward-looking statements
contained in this press release. Factors that
could cause actual results to differ materially
include, but are not limited to, risks and uncertainties
such as the receipt of all necessary corporate
and regulatory approvals, continued development
and maintenance of the infrastructure required
for the Internet, continued and expanded use
of the Internet as a basis for commerce and
communication, and the overall success of SE
Global and its subsidiaries in general. Although
SE Global believes that the beliefs, plans,
expectations and intentions contained in this
press release are reasonable, there can be no
assurance that such beliefs, plans, expectations
or intentions will prove to be accurate. Readers
should refer to the risk disclosures outlined
in the Company’s amended report on Form 8-K/A
dated February 21, 2001 filed with the Securities
and Exchange Commission.
On
Behalf of the Board of Directors of SE Global
Equities Corp.
Toby
Chu
President
& Chief Executive Officer
International Head Office: 1.604.871.9909 extension
308
Asian Head Office: 852.2169.3019 extension 28
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