Midland TX, May 25, 2006 -- StarInvest Group, Inc. (
Symbol:
STIV:OB), is pleased
to announce, as of May 10, 2006, that the Board of Director appointed
Robert H. Cole as new Chief Executive Officer and Chief Financial Officer
of the Company. In addition, the Board has appointed Tanvier M. Malik and
Stephen J. Cole-Hatchard as new Directors. Robert H. Cole, Tanvier M.
Malik and Stephen J. Cole-Hatchard respectively replace Isaac H Sutton,
Mark Mayoka, and John Baird that resigned from their positions with the
Company on May 10, 2006.
Robert H. Cole stated, "I am pleased and excited to work with a
company that has the potential of StarInvest and with a new board that has
the vast experience that Cole-Hatchard and Malik both bring to the table.
We look forward to their help in maximizing the value to the shareholders
of StarInvest."
Robert H. Cole
Previously, Robert H. Cole was the President and Founder of Permian
Business Group (PBG), a business consulting company specializing in the
sale and installation of midrange computer solutions. In 1989, he became
chairman of Aplex Industries. During his management, he increased sales
from $3 to $8 million and sold the company for $7.3 million. He also
founded Stadium Chair Company which was sold in 2003. Mr. Cole has an
impressive track record and his experience with finance, information
systems, manufacturing, and marketing has helped several small companies
to maximize their potential.
Tanvier M. Malik
Tanvier M. Malik is currently the Managing Director of Beaufort
International Associates Limited a fully regulated investment-banking firm
providing Pre-IPO advice to USA companies looking to list in the UK and
Dubai, as well as, business development services in the US, the Middle
East and India. Previously, Mr. Malik was at Alberdale Partners, where he
was actively involved in helping companies raise new finance through
private placements. He started his carrier in 1988 in Merrill Lynch were
he identified and developed new markets focusing on India, Oman and Dubai.
Stephen J. Cole-Hatchard
Previously, Stephen J. Cole-Hachard was the Chief Executive Officer and
Chairman of Frontline Communications Corp. Mr. Cole-Hatchard has extensive
experience in the areas of public and private financing, mergers and
acquisitions, restructuring and turnaround planning and execution.
Accomplishments include the successful completion of four public offerings
and numerous private financings raising over one hundred million dollars
for two companies in distinctly different industries. Recently he
completed the development and execution of a restructuring and turnaround
plan for a $5 million publicly traded Internet company, culminating in the
acquisition of a $100 million communications company.
About StarInvest -- StarInvest Group is a Business Development Company
(BDC) located in Texas. BDCs are publicly traded, closed-end investment
companies regulated by the Investment Company Act of 1940. StarInvest
Group was founded on the premise that the magnitude and consistency of
investment returns can be significantly enhanced by combining both
operational talent and financial talent within a single private equity
investment firm. StarInvest Group has implemented a strategy to create
value for shareholders by investing in emerging companies that are
positioned for strong industry growth or have business models with strong
cash flow potential. In addition to structuring financing requirements,
StarInvest provides managerial assistance and strategic links between the
Portfolio Companies enabling them to maximize their resources for
marketing, business development, administration, public listing planning,
and realization of their goals.