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Globix Announces Major
Share Purchase
NEW YORK, NEW YORK, November 23, 1998 – Globix Corporation
(NASDAQ: GBIX) today announced the purchase by Marc H. Bell, its
President and Chief Executive Officer, of 125,000 Globix common
shares from Harpoon Holdings Ltd. in a privately-negotiated transaction.
An additional 125,000 shares of Globix were purchased by VMR
Luxembourg, an affiliate of Value Management & Research, a German
public company, which had invested $2.2 million in the Company in
1997. Harpoon Holdings, based in Singapore, was an early investor
in Globix prior to its public offering. Harpoon will retain
612,500 shares of the Company, which represents approximately 15%
of the total issued and outstanding shares.
Marc Bell commented, “We are pleased by this further vote of confidence from
our good friends at Value Management & Research and are grateful for
the continuing support of Harpoon Holdings which retains a very substantial
investment in Globix.”
About Globix
Globix Corporation, one of fastest
growing Internet Service Providers, is a leading provider of Internet-based
solutions for mission-critical applications. Globix offers businesses
a convenient single source for a full range of Internet-based products
and services including Dedicated Access, Web Hosting, Co-location
and more.
News and information are available at
www.globix.com.
This press release may contain forward-looking statements.
Actual results could differ materially from those projected in the
forward-looking statements. Additional information concerning factors
that could cause actual results to differ materially from those in
the forward-looking statements is contained under the heading of Risk
Factors listed from time to time in the Company’s filings with the
Securities and Exchange Commission.
Contact:
Marc H. Bell, President
Globix Corporation
212-334-8501
[email protected]
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