ITGI split rumour true, news out now.
DALLAS--(BUSINESS WIRE)--Aug. 4, 2000--Integrated Technology
Group, Inc. (OTCBB:ITGI) today announced that its Board of Directors
approved a 4 for 1 stock split of its common shares.
The board believes that the proposed split of shares is desirable
to enhance the Company's flexibility in connection with possible
future actions, such as stock dividends, corporate mergers,
acquisitions of property, the funding of its business, and most
importantly its proposed listing on the Frankfurt Exchange.
Additionally, the Board of Directors of the Company unanimously
adopted a resolution proposing that the Company's Certificate of
Incorporation be amended to increase the authorized capital stock of
the Company to 50,000,000 shares, all of which will be common stock.
The Board directed that the proposed amendment be submitted to a vote
of the shareholders of the Company. If the amendment is approved by
the holders of a majority of the Company's outstanding shares
represented in person or by proxy at the Company's Annual Meeting, the
Company's Certificate of Incorporation will be amended to provide that
the Company is authorized to issue 50,000,000 shares of common stock.
The Company's Annual meeting is scheduled for Sept. 5, 2000, at
which time the above proposal will be voted upon. The aforementioned
stock split is pending approval of this proposal by the Company's
shareholders. If approved the number of authorized shares will be
increased to 50,000,000. The company plans to effect its 4 for 1 stock
split within 10 days of approval by the shareholders.
Certain information included in this communication contains
statements that are forward-looking, such as statements relating to
the future anticipated direction of the industry, plans for future
expansion, various business development activities, planned capital
expenditures, future funding sources, anticipated sales growth and
potential contracts. These forward statements are subject to a number
of known and unknown risks and uncertainties that could cause actual
operations or results to differ materially from those anticipated.
--30--lr/da*
CONTACT: Ameri-First Securities Corp.
James N. Chatham, II, 214/599-9050
KEYWORD: TEXAS
INDUSTRY KEYWORD: BANKING
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