Circle Group Holdings Announces Special Meeting of Shareholders
21 April 2006 - 4:05PM
PR Newswire (US)
Company Seeking to Change Name to Z-Trim Holdings, Inc. and Issue
New Stock Certificates MUNDELEIN, Ill., April 21
/PRNewswire-FirstCall/ -- Circle Group Holdings, Inc. (AMEX:CXN),
announced today that it has filed a Preliminary Proxy Statement
with the Securities and Exchange Commission regarding a Special
Meeting of Shareholders for the purpose of amending its Articles of
Incorporation to change the Company's name to Z-Trim Holdings,
Inc., as well as to change the manner in which future amendments to
the Articles of Incorporation are approved. The Company's Board of
Directors believes the proposed name will best describe the
Company's business focus on its solution to obesity, Z-Trim. "The
new name will leverage the significant marketing efforts that have
been undertaken by the Company on behalf of Z-Trim and should also
provide a better understanding of the Company's mission and
strategic vision," said Greg Halpern, CEO. Once approved, the
Company intends to change its trading symbol on the American Stock
Exchange from "CXN" to "ZTM." Of special significance, the Company
also plans to change its cusip number and issue new certificates to
replace all existing legitimate common stock certificates. The
Special Meeting of Shareholders will be held at 10:00 a.m. on May
24, 2006 at the Company's headquarters in Mundelein, Illinois. The
record date for the Special Meeting of Shareholders is May 1, 2006.
Shareholders will also be asked at the meeting to consider an
amendment to the Company's Articles of Incorporation that would
allow future amendments to be approved by a simple majority of
shares entitled to vote as opposed to the statutorily- required
two-thirds majority that is applicable now. The Company will be
filing a definitive proxy statement and other relevant documents
with the SEC. These materials will contain important information
and investors will be able to obtain these documents free of charge
at the SEC's website, http://www.sec.gov/ and at Circle Group
Holdings' website, http://www.crgq.com/ . About Z-Trim(R) Z-Trim,
http://ztrim.com/ is a natural zero calorie fat-substitute made
from the hulls of corn, oats, soy, rice and barley that lowers 25%
to 50% of calories from fats in most foods without negatively
affecting taste or texture. Z-Trim generally can't be detected by
consumers when formulated correctly in dairy, dressings, dips,
sauces, baked goods, processed meats, snack foods, cookies, pies,
cakes, icings, brownies, bars, ice cream, milk shakes and many
other foods. It improves texture significantly; makes meats
juicier, baked goods moister, dips creamier. Z-Trim lets you to eat
more of the foods you love without fear of weight gain and allows
you to lose weight without giving up the foods you love. Z-Trim
adopts the flavor and mouth feel of most recipes and reduces
aftertaste in most foods. It has been proven in studies that a
majority of consumers prefer Z-Trim foods over their full-fat
counterparts. Z-Trim can substantially reduce harmful Trans and
saturated fats and adds healthy insoluble and soluble dietary fiber
which can be beneficial to heart patients and diabetics. Z-Trim can
improve digestion without any negative side effects sometimes
associated with other fat substitutes. Z-Trim has been featured on
Fox News "Your World w/ Neil Cavuto"; USA Today, Chicago Tribune,
as well as local affiliates of NBC, FOX and CBS. Forward-Looking
Statements and Risk Factors Statements made in this news release
that relate to future plans, events or performances are
forward-looking statements. Any statement containing words such as
"believes," "anticipates," "plans," or "expects," and other
statements which are not historical facts contained in this release
are forward-looking, and these statements involve risks and
uncertainties and are based on current expectations. Consequently,
actual results could differ materially from the expectations
expressed in these forward-looking statements. Reference is made to
the Company's filings with the Securities and Exchange Commission
for a more complete discussion of such risks and uncertainties.
Circle Group Holdings, Inc. and its directors and executive
officers and other members of its management and employees, may be
deemed to be participants in the solicitation of proxies from
shareholders of Circle Group in connection with the proposed
amendments to the Articles of Incorporation. Information about the
directors and executive officers of Circle Group and their
ownership of Circle Group stock is set forth in the preliminary
proxy statement and in the Company's Annual Report on Form 10-KSB
for the year ended December 31, 2005. Contact: Steve Cohen Voice:
847-549-6002 Email: DATASOURCE: Circle Group Holdings, Inc.
CONTACT: Steve Cohen of Circle Group Holdings, Inc.,
+1-847-549-6002, Web site: http://www.crgq.com/ http://ztrim.com/
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