	hal roach hrsi o robert halmi rhi to merge robert halmi inc said it and hal roach studios inc signed a definitive agreement to merge in a stock swap value at mln dlrs based on october closing prices the company said the agreement calls for the holders of common stock in hal roach to exchange their shares on a one for one basis for shares in the combined company it said holders of robert halmi common will exchange their shares on a two and one half for one basis for shares in the combined company the company said the swap will be tax free the company also said qintex ltd a pct owner of hal roach common stock has agreed to use the company as the exclusive vehicle for its u s media and entertainment investments the company said the company said qintex s u s subsidiary also agreed to supply a minimum mln dlrs line of credit to the new company which shall be used with qintex approval for financing new hri products the company said that under the definitive agreement qintex s u s division will have the right to purchase up to pct of the new company in the open market in private transactions or by tender offer but will not be purchasing warrants to bring its ownership to pct of the new company if qintex s u s subsidiary has not achieved this ownership within one year after the completion of the merger the subsidiary will have the right two years thereafter to request that hri commence a rights offering to hri stockholders the company said regarding the potential rights offering qintex s u s subsidiary will act as standby purchaser the company said the transaction is subject to the approval of both company s shareholders the receipt of certain tax approvals and the continued employement of robert halmi sr and robert halmi jr the company said robert halmi sr who is currently chairman and chief executive officer of robert halmi inc will be chairman of the new company and david evans current president and chief operating officer of hal roach will become chief executive the company said reuter 
