TNRG NEWS!!! DIVIDEND!!
TNRG Announces Rights Offering for Shareholders
NEW YORK, July 29 /PRNewswire/ -- Tianrong Building Material Holdings, Ltd. (OTC Bulletin Board: TNRG) announced today it is distributing to its shareholders rights to purchase shares in its subsidiary Tianrong Internet Products and Services, Inc. (OTC Bulletin Board: TIPS). TNRG shareholders will receive one right to purchase one share of TIPS stock for every four shares of TNRG stock owned. August 19, 1999 was set by the TNRG Board of Directors as the record date for TNRG shareholders to receive the TIPS rights offering. The holder of a right may, for the payment of $.01 (one cent), receive one share of TIPS stock.
The Board of Directors approved the rights offering to replace the originally planned TIPS stock dividend.
TNRG is a business development company that has set as its goal the acquisition of businesses in numerous industries and plans to apply Tianrong's management expertise to quickly grow value in the acquired businesses. Tianrong has announced future stock dividends in three subsidiaries and on a long-term basis may elect to issue stock dividends in other subsidiaries.
For further information contact investor relations at 212-398-7833 or visit: tnrg.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of Tianrong Building Material Holdings to accomplish its stated plan of business. Tianrong Building Material Holdings believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Tianrong Building Material Holdings or any other person that the objectives and plans of Tianrong Building Material Holdings will be achieved.
SOURCE Tianrong Building Material Holdings, Ltd.
CO: Tianrong Building Material Holdings, Ltd.; Tianrong Internet Prodcuts and Services, Inc.
ST: New York
T A P has received 700K shares of TNRG and 1 mil shares of TIPS from the company for services provided for a period of 1 year. For a complete write-up on TNRG/TIPS and other Turn Around Picks and free membership go to T A P profile for url
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