Harris & Harris nixes ‘Tiny’ transformation

Aug. 12, 2002 — Harris & Harris Group Inc. has decided not to ask shareholders to approve a name change to Tiny Technology Venture Capital Inc.

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The publicly traded venture capital company that invests in nanotechnology, microsystems and MEMS said in a news release that it had planned to ask for the name change during its 2002 annual shareholders meeting Sept. 26 in New York.

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The company said that it now believes that a recently adopted rule of the Securities and Exchange Commission would require the company maintain investment of at least 80 percent of its total assets in what it calls “tiny-technology companies” if it changed its name.

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“In light of its need to maintain liquidity for follow-on investments, the company believes that it would not be in the best interest of shareholders to adopt a name that would prevent such liquidity,” the company said in a news release.

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