SBLI- PEOPLE STARTING TO NOTICE SPIN OFF NEWS..
(COMTEX) B: Staff Builders Sets Record Date for Tender Loving Care Sp
B: Staff Builders Sets Record Date for Tender Loving Care Spin-Off; Previously
Announced Spin-Off of Home Health Care Division Scheduled for October 12
LAKE SUCCESS, N.Y., Sep 30, 1999 (BUSINESS WIRE) -- Staff Builders
Inc., (OTC BB:SBLI) one of the nation's largest home health care and
staffing providers, announced today that the record date for the
previously announced spin-off of Tender Loving Care Health Care
Services Inc. ("TLC") will be Oct. 12, 1999.
The spin-off will be accomplished through a distribution of one share
of TLC common stock for every two shares of Staff Builders common stock
outstanding on the record date. Staff Builders' stockholders of record
on such date will not be required to pay for any shares of TLC common
stock distributed to them or to take any action to receive such shares.
Staff Builders anticipates that the spin-off will be completed by the
end of October.
Further details concerning the spin-off will be provided to Staff
Builders' stockholders in an information statement to be distributed to
Staff Builders' stockholders immediately prior to the completion of the
spin-off.
STAFF BUILDERS INC. is an international provider of home health care
services with over 107 locations in 25 states and the District of
Columbia, as well as master franchises in Japan, Spain and Brazil.
Staff Builders also provides supplemental staffing personnel under
contractual arrangements to hospitals, nursing homes, clinics and other
health care facilities with 56 locations in 27 states. The Company's
web address is staffbuilders.com .
Except for historical information contained herein, the statements made
in this release constitute forward-looking statements that involve
certain risks and uncertainties. Certain factors may cause actual
results to differ materially from those contained in the forward
looking statements, including those risks detailed in the Company's
Form 10-Q for the period ended May 31, 1999 filed with the Securities
and Exchange Commission on July 20, 1999 and in the Company's Form 10-K
as of Feb. 28, 1999 and for the year then ended, filed with the
Securities and Exchange Commission on June 11, 1999.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Staff Builders, Lake Success
Stephen Savitsky, Dale R. Clift or Will Derr,
516/358-1000
or
Investor/Media Relations:
Anne Gregory, 281/679-0400 Ext. 12
Website: staffbuilders.com
WEB PAGE: businesswire.com
GEOGRAPHY: NEW YORK |
