SOURCE: Hathaway Corporation

September 05, 2007 06:31 ET

Hathaway (HWYI) Announces Completion of OptiCon Systems, Inc. Spin-Off

Company Pursuing Three Prospective Acquisitions

ST. PETERSBURG, FL--(Marketwire - September 5, 2007) - Hathaway Corporation (PINKSHEETS: HWYI), a company that focuses on acquiring, developing, and managing disruptive technologies in the telecommunications, medical devices, and software fields that change the way companies grow and service their business globally, has announced that it has completed the spinoff of OptiCon Systems, Inc.

"We are pleased to announce that OptiCon's spinoff is now complete, and we expect our shareholders to receive their dividend shares in OptiCon within a few days," stated Sadruddin Currimbhoy, Hathaway's COO.

OptiCon's public listing has yielded a dividend of one share of OptiCon for every two shares of Hathaway held to all the shareholders of record as of the ex-dividend date of August 13, 2007. The dividend shares are expected to be free trading as a result of OptiCon Systems' registration under the Securities Exchange Act of 1934 and the facts in connection with the dividend. There will not be a trading market, however, until the NASD issues a trading symbol. OptiCon Systems cannot predict when this may happen.

"We are excited to have attained this important milestone, which has rewarded our shareholders with shares in an impending newly listed public company, and has provided strong validation for our excellent business model. And, there is more to come -- Hathaway is committed to staying on track of acquiring two or three companies a year, and maintaining our exit horizon in each company of 1-2 years. We are actively pursuing prospective acquisitions that fit our strategy," added Mr. Currimbhoy.

Hathaway targets companies within the telecommunications, medical devices, and software fields with technologies that bring a shift in how the future is delivered globally.

About Hathaway

Hathaway Global Inc. focuses on acquiring disruptive technologies in the telecommunications, medical devices, and software fields that can change or alter the way companies grow and service their businesses globally. Hathaway provides financial and infrastructural support to create revenue growth companies, positioning them to leverage the opportunities such technologies are typically capable of. Hathaway then offers the company on the public market or facilitates a buyout. Through companies like OptiCon, Hathaway brings the communication solutions of the future to today's business marketplace. To request further information about Hathaway, please email us at investors@hathawayglobal.com

Safe Harbor

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

Contact Information

  • Contact:
    FutureTechIR for Hathaway Corporation
    Investor Relations
    (817) 812-2105 or
    (727) 417-9338