Date: Fri, 19-Dec-97 16:41:05 GMT Server: PowerWeb/4.02r9 MIME-version: 1.0 Content-type: text/html Content-length: 2748
November 25, 1997Dear Warrant holder:
American Bingo & Gaming Corp. (the "Company") has elected to redeem all of its outstanding publicly traded common stock purchase warrants (the "Warrants"). The Warrants include (i) 1,875,000 Warrants which were issued and delivered pursuant to the Company's initial public offering in December 1994; (ii) 337,500 Warrants issued pursuant to the Company's October 1994 Bridge Financing; (iii) 1,005,000 Warrants issued in December 1995 and (iv) 100,000 Warrants issued in August 1997. In accordance with the terms of the Warrants as well as that certain Warrant Agreement between the Company and American Stock Transfer Trust Co., ("Warrant Agent") dated December 14, 1994, the Company has selected December 22, 1997 as the date fixed for the redemption of all Warrants ("Redemption Date"). The redemption price to be paid on the Redemption Date is $0.001 per warrant ("Redemption Price"). The Redemption Price will be paid by the Warrant Agent upon presentation and surrender of certificates representing the Warrants to the Warrant Agent at its principal offices at 40 Wall Street, New York, New York 10004 on or before the Redemption Date. Holders of the Warrants may elect at any time prior to the Redemption Date to exercise their Warrants in accordance with the terms of the Warrants. In order to receive the Redemption Price the enclosed letter of transmittal must be completed by you and delivered to the Warrant Agent along with your warrant certificate on or before the Redemption Date. PLEASE NOTE THAT ALL RIGHTS TO EXERCISE THE WARRANTS SHALL TERMINATE AND BE OF NO FURTHER FORCE OR AFFECT AS OF 5:00 P.M. NEW YORK CITY TIME ON THE REDEMPTION DATE.
If you have any questions in this regard please do not hesitate to call Michael Fearnow at (713) 840-7500.
Very truly Yours,
AMERICAN BINGO & GAMING CORP.
By: s\ Greg Wilson