NEW YORK - (Business Wire) Nemazee Capital, a major shareholder in UniPureEnergy Acquisition Company, today announced its role in a stock exchange agreement involving the transfer of 19.5% interest in UniPureEnergy to HKN, Inc. in exchange for 1,000,000 restricted shares of HKN common stock. Nemazee Capital (www.nemazee.com), an investment company controlled by veteran financier Hassan Nemazee, has an extensive record of investments in a wide variety of industry sectors, including energy. Nemazee Capital will, along with major shareholder Quadrant Management, remain in a leading role with UniPureEnergy. UniPureEnergy provides patented technologies that upgrade the value and purity of refined products and provide beneficial economic and positive environmental impact for the disposition of residual fuels and waste materials. UniPure builds and owns those important energy assets, and works with its partners to help them avoid tying up capital dollars in production and refinery infrastructure.
“We expect this agreement involving HKN, Nemazee Capital, and UniPureEnergy to help provide mutual strength and flexibility for all parties moving forward,” said Hassan Nemazee, Chairman and CEO of Nemazee Capital. “We are confident that HKN will prove to be an excellent partner in helping steward UniPure in its future energy-related projects.”
As part of its investment in UniPureEnergy, HKN has also entered into a separate Loan Agreement with the company which will provide secured loans to UniPure and its subsidiaries up to a maximum amount of $2.5 million.
About Nemazee Capital
Nemazee Capital, along with its affiliates, has in excess of $3.0 billion in assets under management and a lengthy investment track record. Since 1987, Nemazee Capital has invested in a wide variety of industry sectors, including healthcare, media, oil and gas, insurance, financial services, publishing, real estate development, technology, and communications. Its founder Hassan Nemazee has more than 30 years of successful investing experience across numerous verticals. In recent years, Nemazee Capital has focused its investment portfolio on the financial services industry through acquisitions of Carret Asset Management and participated in the acquisition of Brean Murray Carret & Co. For more information on Hassan Nemazee and Nemazee Capital, visit www.nemazee.com.
About Quadrant Management
Quadrant Management, Inc. is a principal alternative investment management firm focused on US and emerging markets. Quadrant, along with its affiliates, has in excess of $3.0 billion in assets under management and a thirty year investment track record, much of it based upon restructuring companies.
About HKN, Inc.
HKN, Inc. is an independent energy company engaged in oil and gas exploration, development and production operations both domestically and internationally through a well-balanced portfolio of energy-based assets. HKN is a publicly traded company listed on the NYSE (US:HKN), and was incorporated in 1973 in the State of California, and reincorporated in 1979 in the State of Delaware.
Safe Harbor Statement
Certain statements in this announcement and inferences derived therefrom may be regarded as "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Management's current view and plans, however, are subject to numerous known and unknown risks, uncertainties and other factors that may cause the actual results, performance, timing or achievements of HKN to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements. The various uncertainties, variables, and other risks include those discussed in detail in the Company's SEC filings, including the Annual Report on Form 10-K filed on February 14, 2009. HKN undertakes no duty to update or revise any forward-looking statements. Actual results may vary materially.
Nemazee Capital
Ziba Mahdavi, 212-262-3111
info@nemazee.com
