TEMECULA, Calif., July 14, 2004 (PRIMEZONE) -- Nicholas Investment Company, Inc. (Other OTC:NIVM) today announced that the acquisition of Nicholas by YaSheng Group is proceeding as anticipated and is expected to close on schedule.
A 14C Definitive Information Statement filed with the Securities and Exchange Commission on July 07, 2004 explained to shareholders the process of tendering shares of NIVM for shares of YaSheng Group. The 14C explains that upon the close of the acquisition of Nicholas by YaSheng Group, shareholders will no longer be able to trade their common stock under the name Nicholas Investment Company or under the trading symbol "NIVM." Stock of Nicholas Investment Company tendered for exchange will be exchanged for stock 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 any clearing firm but only shares that are registered in the name of the beneficial owners.
Steven R. Peacock, President and Chairman of Nicholas commented, "The process of tendering shares is underway, and we will continue to communicate this method for Nicholas shareholders to exchange their shares for shares of YaSheng Group. Through this process, YaSheng gains a clear picture of the investor community it is acquiring in this transaction and will have a record of all its new shareholders."
The Company also announced that its transfer agent has recently changed to Transfer Online, located at 317 SW Alder Street, 2nd Floor, Portland, Oregon 97204. Transfer Online can be reached by telephone at 503-227-2950, by facsimile at 503-227-6874 and by email at info@transferonline.com.
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.