SENTRY’S SALE TO DUTCH A&A PLACED ON HOLD; DETAILS DISCUSSED
Sentry Technology Corp. announces that the closing of the purchase of its common stock by Dutch A&A Holding B.V. has been postponed while the parties discuss various aspects of the closing and related financing. As previously announced, Dutch A&A is to invest an initial $3 million in newly issued common stock of Sentry and is to receive 37.5 percent of the company’s outstanding common stock, with the right to acquire additional shares during the two-year period following the closing, up to an aggregate holding of 60 percent of Sentry’s common stock then outstanding. Shareholders of Sentry had previously approved several charter amendments required as a condition to the Dutch A&A investment.
Dutch A&A is headquartered in the Netherlands and, through its subsidiaries, develops, manufactures and markets RFID, access control, RF/EM antishoplifting systems, security labels and software in 50 countries. Sentry Technology was formed in 1997 through the merger of Knogo North America Inc. and Video Sentry Corp. Through its subsidiaries, Sentry designs, manufactures, sells, installs and services a line of electronic article surveillance (EAS) and CCTV surveillance systems, including its patented traveling SentryVision(r) system. The company’s products are used by retailers to deter shoplifting and employee theft, and by commercial, manufacturing and governmental customers to protect people and assets.
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