BELIZE CITY, Belize, March 2 /PRNewswire/ -- BHI Corporation
(Nasdaq: BHIK), a leader in outsourced facilities services in North America,
announced today that the Board of Directors has approved granting voting
rights to all the company's Ordinary Shares. Each Ordinary Share will have
one vote and will be entitled to vote on all shareholder issues at the
company's shareholders meetings. There are currently 10.8 million Ordinary
Shares outstanding.
In conjunction with the change to voting shares, BHI will change its
ticker symbol on Nasdaq to BHIC. The symbol change will be effective when the
market opens on March 3, 1999.
BHI Chairman and Chief Executive Officer, Michael A. Ashcroft, commented,
"The change to voting shares is consistent with our goal of making BHI stock
attractive to the widest possible investment audience. In the last nine
months, our newly renamed OneSource division has improved margins, completed a
series of accretive acquisitions and enhanced customer service through our
24-hour Call Center operation. Management's compensation is closely tied to
building value for shareholders and we see many opportunities ahead for
profitable growth in the facilities services industry."
BHI Corporation is a leader in the outsourced facilities services sector
in North America and provides janitorial, landscaping, security services,
commercial interior painting services, general repair and maintenance and
other specialized services to more than 10,000 commercial, institutional and
industrial accounts. The company also owns and operates selected businesses
in Central America. BHI prepares its financial statements in US dollars and
according to US GAAP.
Forward Looking Statement
Certain statements in this press release constitute "forward looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. In particular, statements contained herein regarding expectations
with respect to future revenue and business expansion, are subject to known
and unknown risks, uncertainties and contingencies, many of which are beyond
the control of BHI, which may cause actual results, performance or
achievements to differ materially from anticipated results, including, among
others, overall economic and business conditions, the demand for BHI's
services, competitive factors, regulatory approvals and the uncertainty of
consummation of future acquisitions. Additional factors which may affect
BHI's business and performance are set forth in BHI's filings with the
Securities and Exchange Commission.
SOURCE BHI Corporation
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CONTACT:
Angela Entwistle of BHI, 561-368-3899; or
Eileen M. Halsch of Broadgate Consultants, Inc., 212-232-2222
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