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 Charys Holding Company, Inc. Becomes a Public Company Upon Approval by ShareholdersATLANTA -- June 30, 2004 -- Charys Holding Company, Inc. (OTCBB:SBYI.OB - News) today announced that shareholders have approved its plan of reorganization and that the company has been officially launched as a publicly traded entity. On Friday, June 25, 2004, shareholders of Spiderboy International, Inc. (Spiderboy) approved the merger of the company with Charys Holding Company, Inc. (Charys). Charys is the surviving entity and namesake after the merger. As a result of the merger, 10 common shares of Spiderboy will be exchanged for one common share of Charys and one preferred share of Spiderboy shall be exchanged for one preferred share of Charys. The surviving entity will be domiciled in Delaware. "We are excited that our reorganization plans were approved by our shareholders," said Billy V. Ray, chairman and CEO, Charys Holding Company, Inc. "The positive shareholder vote for the merger was the first step in enabling our team to begin to execute the acquisition and operational strategies we have envisioned." The current shareholders of SBYI.OB have become shareholders of Charys. Accordingly, the new Charys shares may be resold by the former shareholders without restrictions - to the same extent that such shares could be sold without restrictions before the merger. Charys will trade under the SBYI.OB ticker for the foreseeable future. About Charys Holding Company, Inc. Headquartered in Atlanta, Georgia, Charys Holding Company, Inc. is a publicly traded entity focusing on the fragmented and underserved segment referred to as Integrated Infrastructure Support Services. This segment varies widely in scope but is fundamentally focused on upgrading the underpinning and infrastructure of the telecommunication, cable, electric, and Internet industries serving consumers, businesses and government entities. Our principle strategy is to acquire through mergers and acquisitions companies that support this underserved segment. Charys will serve as a vehicle to provide individual business owners a unique opportunity to participate in effectively "going public," without the time, energy and expense of the process. The mission of the company will continue to be the acquisition of multiple companies into the public entity to better serve the Integrated Infrastructure Support Services market. NOTE: The names of actual companies and products mentioned herein may be the trademarks of their respective owners.Forward-looking statements in this release, including statements regarding management's expectations for future financial results and access
to capital markets, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned
that these forward-looking statements regarding Charys Holding Company, Inc., its operations and its financial results involve risks and uncertainties,
including without limitation risks of accessing capital markets on terms acceptable to Charys, downturns in economic conditions generally and in the
telecommunications and data communications markets; risks in product development and market acceptance of and demand for Charys products; risks of
failing to attract and retain key managerial and technical personnel; risks associated with competition and competitive pricing pressures; risks
associated with investing in new businesses; risks related to intellectual property rights and litigation; risks in technology development and
commercialization.Contact: www.redninePR.com |
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