OKTI 1:50 reverse, and a very strange dividend announcement:
pinksheets.com
Oxford Knight International Inc. Issues Dividend and Stock Reverse
HOUSTON, Nov 16, 2001 (BUSINESS WIRE) -- Oxford Knight International Inc. announces today that it is doing a one for fifty reverse stock split of its common stock effective Dec. 1, 2001.
Paul Syracuse comments, "This measure is being taken due to the fact that we are in the process of raising capital for capital expansion, new stores across the country and possible acquisition targets. It makes it very difficult to get financing and acquire other companies with the stock at these prices."
Oxford Knight International Inc. also is announcing it is changing the State of Incorporation from Delaware to the State of Texas, coupled with the changing of the Par value from .00001 to .001. The company is also changing the cusip number. With all the changes to the stock it will require a mandatory call in of all shares by Dec. 1, 2001. All shares must be converted due to the fact that the current company with all the information on the certificate will not only be incorrect, but for all intents and purposes, this would legally constitute a new company.
Oxford Knight International Inc. is also very pleased to announce that it is giving a 1000 share dividend to all shareholders, regardless of position, title or amount of shares held on the record date as of Dec. 1, 2001. The shares will have a 144 restriction placed on the stock for a term of one year.
Paul Syracuse comments, "I feel that this dividend for our valued shareholders is our growing commitment to shareholders as they have shown great patience and resolve as investors to our company. We at Oxford Knight International Inc. hope to have another great year, and to keep growing into a major player in the billion dollar market of the BBQ business."
Oxford Knight International Inc. is also pleased to invite all record holders of Oxford Knight International Inc. as of Nov. 15, 2001, to partake in a 30% discount of our product line.
Paul Syracuse comments, "We at Oxford are pleased to invite you to our Web site www.pittsandspitts.com and to share such a wonderful product with our shareholders who have had such faith in our management team. We would be pleased to hear from our valued customers and shareholders via our Web site."
This press release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.
CONTACT: Oxford Knight International Inc., Houston
Paul Syracuse, 281/987-3474
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KEYWORD: TEXAS
INDUSTRY KEYWORD: FOODS/BEVERAGES
DIVIDEND
SOURCE:
Oxford
Knight
International
Inc. |
