NOTICE OF REDEMPTION OF REDEEMABLE COMMON STOCK PURCHASE WARRANTS Dear Warrantholder:Warrant Agreement • February 19th, 1997 • Specialty Teleconstructors Inc • Water, sewer, pipeline, comm & power line construction
The Warrant Agreement (the "Warrant Agreement") dated effective as of November 4, 1994, between Specialty Teleconstructors, Inc., a Nevada corporation (the "Company"), American Stock Transfer & Trust Company, a New York corporation (the "Warrant Agent") and Thomas James & Associates, Inc., a New York corporation, provides that the Company may, at its option, upon at least 30 days prior written notice, redeem the Company's Redeemable Common Stock Purchase Warrants (the "Warrants") if the closing sales price of the Common Stock as reported by the Pacific Stock Exchange or other national trading market on which the Common Stock may then be listed has equaled or exceeded $9.00 per share for ten (10) consecutive trading days (the "Target Price"). As of the close of trading on February 18, 1997, the price of the Company's Common Stock has exceeded the Target Price, as reported by the Pacific Stock Exchange and Nasdaq, for more than 10 consecutive trading days.
