DPCI 5 for 1 forward split
CAPISTRANO BEACH, Calif.--(BUSINESS WIRE)--Dec. 12, 2000--DP
Charters Inc. (OTCBB:DPCI) Tuesday announced that it will forward
split its common stock five for one, pursuant to approval of its board
of directors.
This will increase the total number of outstanding common shares
to 38.33 million. The forward split will apply to shares owned of
record at the close of business on Dec. 12, 2000. The effective date
for the split will be on Dec. 13, 2000.
A mandatory share exchange will be required to effect this forward
split, therefore shareholders of the record date will be required to
surrender their shares to the company's transfer agent for
re-issuance. The split will be payable on surrender of shares.
Shareholders are not required to surrender their stock
certificates by any mandatory deadline in order to be entitled to the
additional shares.
The company recently announced that it has agreed to acquire
TriLucent Technologies Inc., a developmental resource firm that
specializes in the exploration of oil and gas.
TriLucent has an exclusive, worldwide license to certain
technologies that are believed to increase the chance of commercial
success of exploratory drilling for oil and gas. Currently, the
industry has an average success rate of about 20% when drilling for
exploratory reserves, and TriLucent believes its technologies can
facilitate an increase in this success rate to more than 50%. These
technologies are expected to significantly reduce the risk associated
with oil and gas exploration, and will partially create great economic
benefit for the company's shareholders.
The company plans on changing its name to TriLucent Technologies
Corp. or a substantially similar name as well as change its trading
symbol. For more information about TriLucent Technologies, visit
www.trilucent-technologies.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained herein which are not
historical fact are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements,
including, but not limited to, certain delays in testing and
evaluation of products and other risks detailed from time to time in
DP Charters Inc.'s filings with the Securities and Exchange
Commission.
--30--KA/np* KM/np
CONTACT: Bordwell Financial Group Inc.
Tony Bordwell, 805/579-1712
or
Insight Corporate Development Ltd.
Michael Le Guellel, 707/537-9119 |
