North Springfield, Vermont-based Vermont Research Corp is to disappear into Storage Computer Corp of Nashua, New Hampshire under a deal in which its shareholders will receive five shares of Storage Computer common stock for every 14 shares of Vermont held, and Storage Computer is seeking American Stock Exchange listing of the stock that would be outstanding following the reorganisation; Vermont Research does not presently satisfy the financial guidelines for continued listing on the exchange and there can be no assurance that the listing of Vermont or the survivor will be continued; Vermont Research’s US operations will move to Storage Computer’s headquarters in Nashua and its wholly-owned Vermont Research Ltd here in the UK will operate as a unit of Storage Computer; when the deal is complete, Vermont Research shareholders will hold about 7% of Storage Computer, a marketer of fault-tolerant storage systems based on patented RAID 7 disk array technology with sales running at $10m a year; Vermont also warns that it expects to report a sharp decline in revenues for the year and quarter ended September 30 because of lower than expected orders for its traditional disk emulator products and delays in the start-up of shipments of the firm’s new Stealth Cache disk products.
