Meridian|NNP National|NNP Corp|NNP .|. said|VBD it|PRP sold|VBD 750,000|CD shares|NNS of|IN its|PRP$ common|JJ stock|NN to|TO the|DT McAlpine|NNP family|NN interests|NNS ,|, for|IN $1|NN million|CD ,|, or|CC $1.35|NN a|DT share|NN .|. 
The|DT sale|NN represents|VBZ 10.2|CD %|NN of|IN Meridian|NNP 's|POS shares|NNS outstanding|JJ .|. 

The|DT McAlpine|NNP family|NN ,|, which|WDT operates|VBZ a|DT number|NN of|IN multinational|JJ companies|NNS ,|, including|VBG a|DT London|NNP -|- based|JJ engineering|NN and|CC construction|NN company|NN ,|, also|RB lent|VBD to|TO Meridian|NNP National|NNP $500,000|NN .|. 
That|DT amount|NN is|VBZ convertible|JJ into|IN shares|NNS of|IN Meridian|NNP common|JJ stock|NN at|IN $2|NN a|DT share|NN during|IN its|PRP$ one|JJ -|- year|NN term|NN .|. 
The|DT loan|NN may|MD be|VB extended|VBN by|IN the|DT McAlpine|NNP group|NN for|IN an|DT additional|JJ year|NN with|IN an|DT increase|NN in|IN the|DT conversion|NN price|NN to|TO $2.50|NN a|DT share|NN .|. 

The|DT sale|NN of|IN shares|NNS to|TO the|DT McAlpine|NNP family|NN along|IN with|IN the|DT recent|JJ sale|NN of|IN 750,000|CD shares|NNS of|IN Meridian|NNP stock|NN to|TO Haden|NNP MacLellan|NNP Holding|NNP PLC|NNP of|IN Surrey|NNP ,|, England|NNP and|CC a|DT recent|JJ public|JJ offering|NN have|VBP increased|VBN Meridian|NNP 's|POS net|JJ worth|NN to|TO $8.5|NN million|CD ,|, said|VBD William|NNP Feniger|NNP ,|, chief|JJ executive|JJ officer|NN of|IN Toledo|NNP ,|, Ohio|NNP -|- based|JJ Meridian|NNP .|. 

