RM Investors To Acquire 20/20 Produce Sales - Quick Facts

(RTTNews) - RM Investors Inc. (RMII.OB) announced that it had agreed to acquire 20/20 Produce Sales Inc., a regional produce distributor based in Heyburn, Idaho. 20/20 Produce Sales Inc. had net sales of $15.9 million and a net profit of $0.4 million for the year ended December 31, 2013.

RMII agreed to issue 4.84 million shares of RMII stock to acquire 20/20 as a wholly owned subsidiary. Upon the completion of the acquisition, RMII will have 6.08 million shares of common stock issued and outstanding. Prior to the acquisition, the shareholders of 20/20 and a third person purchased an aggregate of 832,400 shares from principal stockholders of RMII.

As a result of these transactions, the former stockholders of 20/20 now own an aggregate of 5.47 million shares, or approximately 90%, of the 6.08 million shares of RMII outstanding. Approximately 340,000 shares remain in the hands of RMII's public stockholders, and 67,600 shares are retained by former RMII management.

In connection with the acquisition of 20/20, its directors and shareholders were elected as directors and officers of RMII. The new Board of Directors consists of Mark D. Williams, Robert T. Williams, Tom Wason, and Colin Gibson. The Board also approved changing the name of the company to 20/20 Global, Inc. The company will announce a new stock symbol reflecting the new name at a later date.

The new Board has also approved a 2-for-1 forward stock split of the 6.08 million issued and outstanding shares of common stock to increase the outstanding stock to 12.15 million shares. The record and effective dates of the forward stock split will be announced when they are determined.