Globix Announces Major Share PurchaseNEW YORK – November 23, 1998Globix 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 GlobixGlobix is a leading provider of advanced Internet hosting, network and applications solutions for business. Globix delivers services via its secure state-of-the-art Internet DATA Centers, its high-performance global backbone and content delivery network, and its world-class technical professionals. Globix provides businesses with cutting-edge Internet resources and the ability to deploy, manage and scale mission-critical Internet operations for optimum performance and cost efficiency.
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