China Digital Communication Group Announces 10-for-1 Reverse Stock Split and Ticker Change to CMTP
11 7월 2009 - 5:45AM
PR Newswire (US)
Reverse Stock Split and New Ticker to Take Place July 13, 2009 NEW
YORK and SHENZHEN, China, July 10 /PRNewswire-Asia-FirstCall/ --
China Digital Communication Group (OTC:CHID) (BULLETIN BOARD: CHID)
, a manufacturer of battery components in China, announced today
its 10-for-1 reverse stock split is to take place on Monday, July
13, 2009. In connection with the stock split, China Digital
Communication Group's trading symbol as quoted on the OTC Bulletin
Board will be changed from (OTCBB: CHID) to (OTCBB: CMTP). The
reverse stock split was previously announced by China Digital
Communication Group in its filings with the SEC and was approved by
its Board of Directors and a majority shareholder of approximately
50.39% of capital stock on April 30, 2009. Every ten shares of
China Digital Communication Group common stock will be
automatically converted into one share. In connection with the
reverse split, the China Digital Communication Group common stock
will trade under the new CUSIP No. 169381209. Fractional shares of
stock will not be issued as a result of the reverse split.
Stockholders who would otherwise receive a fractional share of
China Digital Communication Group common stock will be entitled to
receive an equivalent amount of cash in lieu of fractional shares,
based on the average daily closing price per share of the common
stock on the OTC Bulletin Board for the 10 consecutive trading days
ending on July 13, 2009. About China Digital Communication Group
China Digital Communication Group, through its wholly owned
subsidiary, Shenzhen E'Jenie Science and Technology Co., Ltd.
(E'Jenie), is one of China's leading manufacturers and developers
of advanced telecommunications equipment. E'Jenie sells advanced
high-quality lithium-ion battery shell and cap products to all
major lithium-ion battery cell manufacturers in China. E'Jenie's
products are used to power mobile phones, MP3 players, laptops,
digital cameras, PDAs, camera recorders and other consumer
electronic digital devices. China Digital Communication Group is
continuing its expansion across East Asia, while seeking
distribution partners and acquisitions in new global markets,
including the U.S. For more information, please visit:
http://www.chinadigitalcommunication.com/ Forward-looking
statement: Except for the historical information, the matters
discussed in this news release may contain forward-looking
statements, including, but not limited to, factors relating to
future sales. These forward-looking statements may involve a number
of risks and uncertainties. Actual results may differ materially
based on a number of factors, including, but not limited to,
uncertainties in product demand, risks related to doing business in
China, the impact of competitive products and pricing, changing
economic conditions around the world, release and sales of new
products and other risk factors detailed in the company's most
recent annual report and other filings with the Securities and
Exchange Commission. For more information, please contact: China
Digital Communication Group Ken Lin Tel: +1-917-573-0302 Email:
China America Financial Communications Group Darren Minton Tel:
+1-212-823-0523 Email: DATASOURCE: China Digital Communication
Group CONTACT: China Digital Communication Group, Ken Lin,
+1-917-573-0302, or ; or China America Financial Communications
Group, Darren Minton, +1-212-823-0523, or Web site:
http://www.chinadigitalcommunication.com/
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