Interfoods to Implement Three for One Stock Split
ENCINO, Calif.--(BUSINESS WIRE)--July 16, 1999--Interfoods Consolidated, Inc. (OTC BB:IFCO) said its Board of Directors today approved a three-for-one stock split of its common stock for shareholders of record at the close of business on July 19, 1999.
As a result of the split, shareholders will receive two additional shares of Interfoods common stock for each share they hold as of the record date. The Company has been advised that the receipt of additional shares as a result of the split should not be taxable to shareholders. Total shares outstanding will increase from approximately 6.2 million to 18.6 million shares. Par value will remain at $0.001.
Interfoods Consolidated, Inc., through its operating subsidiaries, is a manufacturer, distributor and marketer of specialty gourmet and Mexican food products. Its wholly owned subsidiary, Holland American International Specialties, is a 56-year old wholesaler and retailer of specialty gourmet foods. Interfoods also manufactures Mexican food products through its Sierra Vista Foods, Inc. subsidiary.
Certain information and statements included in this release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements.
CONTACT:
Interfoods Consolidated, Inc.
Eric Manlunas, 818/981-8030 ext. 2
KEYWORD: CALIFORNIA
BW0034 JUL 16,1999
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