Enviro-Energy Corporation Announces Record Date for Dividend Distribution
SPOKANE, Wash.--(BUSINESS WIRE)--Feb. 10, 2003--Enviro-Energy Corporation (OTCBB:ENGY) (Germany: 676401-EVM.BER) has set February 18, 2003, as the date of Enviro-Energy share ownership to be eligible for receipt of Reed Holdings Corporation (RDHC) shares.
The Reed Holding Corporation shares are partial payment to Enviro-Energy Corporation for the sale of Enviro-Energy's subsidiary, Environmental Reclamation Inc. In addition to $150,000 paid in 2002 and the above RDHC share payment, Enviro-Energy is to receive shares in an additional company for later distribution to the Enviro-Energy Corporation shareholders. Enviro-Energy Corporation cannot attest to either the worth or valuations of Reed Holdings Corporation. Their December 12, 2002, press release states, "Through direct and indirect ownership of a diversified group of businesses that generate cash and above average returns on capital, Reed Holdings Corp. seeks to maximize its intrinsic value and provide its shareholders with strong reliable growth. It is our belief that despite our corporate structuring we are required to think of our shareholders as owner-partners for whom we manage the Company."
RDHC will distribute directly to ENGY shareholders. If the ENGY shareholders have physical possession of their Enviro-Energy Stock Certificate, the RDHC stock certificate shall be forwarded to the Enviro-Energy shareholders at their address of record as it appears on the Enviro-Energy stock ledger maintained by United Stock Transfer Corporation, Enviro-Energy Corporation's Transfer Agent. If Enviro-Energy Corporation's shareholders of record do not have physical possession of their Enviro-Energy Corporation shares but utilize a brokerage firm as Custodian (approximately 85% of Enviro-Energy shares are held this way), the RDHC dividend will be distributed to the shareholder's brokerage firm for credit to the Enviro-Energy Corporation shareholder's account. RDHC distributed shares must conform to the business practices of Reed Holdings Corporation as explained in their December 12, 2002, press release as follows:
"Beginning at the close of business on December 13, 2002, ownership of the company's shares must be evidenced only in certificate form under seal of the company and signed by the President and Secretary.
This change will not restrict or limit current or future shareholders from purchasing or selling shares in the normal method through the existing and established broker-dealer network. The reason for this change is to protect shareholder value and reduce the potential for unethical and improper trading practices known as naked short selling.
In an effort to protect the integrity of the market for stock in Reed Holdings Corporation, shares of the company will be transferred only within the provisions of 'Certificate Only' or 'Custody Only' status. This share transfer system requires that any transfers of the company's stock be made only by delivery of physical stock certificates.
No certificate shall be printed or entered into the company's books via its transfer agent in the names of either Cede & Co., Depository Trust Company, CDS & Co. or any other such type depository for certificates.
All certificates surrendered to the company's transfer agent shall be cancelled and reissued only in the direct name of the true beneficial owner of the shares.
As a result of the Company's Custody Only Common Share Transfer System, current Company shareholders, holding their shares in 'street name' in their brokerage accounts, should IMMEDIATELY become registered shareholders by contacting their broker and requesting that their shares of Reed Holdings Corp. be physically delivered to their address of record."
The above excerpt is from the Reed Holdings Corporation press release of December 12, 2002.
CONTACT:
Enviro-Energy Corporation, Spokane
Thomas Bowers, 509/252-5850
enviro-energycorp.com |
