Premier Holdings Announces Stock split
May 9, 2005 -- Premier Holdings Group Inc. (OTC:PHGI), announced today that its Board of Directors, declared a one-for-ten reverse split of its common stock.
Joseph Chappelle, Chairman and Chief Executive Officer stated, "The stock split shows our confidence in the Company's future prospects. The present restructuring and re-capitalization puts the company in a better position to provide value for our patient shareholders. We are committed to enhancing shareholder value and these actions contribute to this effort."
The split will be effected in the form of one share for every ten shares to shareholders of record on May 2, 2005. Following the stock split, there will be approximately 2.4 million shares outstanding and approximately 450,000 shares in the public float.
About Premier Holdings Group, Inc.
Premier Holdings Group has three subsidiaries: Premier Medical, Premier Genetics, & Premier Forensics that specialize in collection services for DNA, Paternity, Sibling, and Immigration testing. For more information, visit
www.phgi.net and
www.premiergenetics.com.
Contact:
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770.572.4229
This news release includes "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could affect actual results include, among others, changes in customers' demand for the Company's products, including seasonal changes in customer orders, changes in raw material costs, pricing actions by competitors, consolidation among customers and competitors, success in the integration of acquired businesses, unanticipated changes in operating expenses, changes in technology, difficulties in the start up of new equipment, changes in copyright laws, changes in tax regulations, and general changes in economic conditions, including currency fluctuations and changes in interest rates. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements will prove to be accurate. The forward-looking statements included herein are made as of the date hereof, and the Company undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances.
Premier Holdings Announces Stock split