Advant-e Corporation Announces Ten-for-One Stock Split, Payment of $2 Million Cash Dividend, and Trading Symbol Change to ADVC
30 Outubro 2009 - 7:00PM
PR Newswire (US)
Shareholders of record as of November 30, 2009 to receive 10 common
shares for each share owned; Approximately $2 million cash dividend
($0.03 per common share after stock split) to be paid in three
installments of $0.01 per share by December 31, 2009, June 30, 2010
and December 31, 2010; New Trading Symbol to be ADVC starting on
November 2, 2009 DAYTON, Ohio, Oct. 30 /PRNewswire-FirstCall/ --
Advant-e Corporation (OTC Bulletin Board: AVEE), a provider of
Internet-based Electronic Data Interchange and electronic document
management software and services today announced that its Board of
Directors has authorized a ten-for-one stock split of the Company's
common stock. All shareholders of record on November 30, 2009 will
receive 10 shares in exchange for each share held on that date. The
Company's Certificate of Incorporation will be amended to increase
the number of authorized common shares to 100,000,000 in order to
carry out the stock split. The Board of Directors also declared the
payment of $.03 per share (after the ten-for-one stock split) cash
dividend, payable in three installments of $.01 each by no later
than December 31, 2009, June 30, 2010, and December 31, 2010. The
$.03 per share cash dividend, which will total approximately $2
million, is equivalent to a $.30 dividend per share prior to the
ten-for-one stock split. In addition, the Company requested, and
was granted, a change to the Company's trading symbol from AVEE to
ADVC effective on Monday, November 2, 2009. Jason K. Wadzinski,
Chairman, Chief Executive Officer, and President, remarked, "The
purpose of the cash dividend is to reward the Company's
shareholders, many of whom have been shareholders for a very long
time, and to enable them to likely take advantage of favorable
Federal income tax treatment that is scheduled to expire at the end
of 2010. The cash dividend for shareholders who hold the stock long
enough to receive all three installments represents a 21% return on
investment based on the most recent closing price of the Company's
stock of $1.39. "The purpose of the ten-for-one stock split is to
increase the number of shares available in the public float to
provide the potential for additional market liquidity for our
stock," continued Mr. Wadzinski. About Advant-e Corporation
Advant-e, via its wholly owned subsidiaries Edict Systems, Inc. and
Merkur Group, Inc. is a provider of internet-based hosted
Electronic Data Interchange (EDI) and electronic document
management software and services. The Company helps businesses
automate manual, paper-intensive processes via expanded use of EDI
or by integrating directly with ERP/MRP systems. Additional
information about Advant-e Corporation can be found at
http://www.advant-e.com/, http://www.edictsystems.com/, and
http://www.merkurgroup.com/, or by contacting investor relations at
(937) 429-4288. The company's email is . The information in this
news release includes certain forward looking statements that are
based upon assumptions that in the future may prove not to have
been accurate and are subject to significant risks and
uncertainties, including statements to the future financial
performance of the company. Although the company believes that the
expectations reflected on its forward looking statements are
reasonable, it can give no assurance that such expectations or any
of its forward-looking statements will prove to be correct. Factors
that could cause results to differ include, but are not limited to,
successful performance of internal plans, product development and
acceptance, the impact of competitive services and pricing, or
general economic risks and uncertainties. DATASOURCE: Advant-e
Corporation CONTACT: Investor Relations of Advant-e Corporation
,+1-937-429-4288, or Web Site: http://www.advant-e.com/
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