LEXINGTON, KY -- (MARKET WIRE) -- 05/18/07 -- Plasticon International, Inc. (PINKSHEETS: PLNI) announced today that the Company is offering a share exchange program to its shareholders. Plasticon International, Inc. will offer to exchange common shares of stock from shareholders, which they will value at $.001, which is premium to market price, in exchange for convertible preferred stock to be valued at $1.00 a share. This means for every 1000 shares of common stock offered back to the Company, shareholders will receive one share of convertible preferred stock valued at $1.00 for future conversion purposes.
Current shareholders must have their shares into First American Stock Transfer by July 3, 2007 in order to qualify for the exchange of common shares to convertible preferred shares. Shareholders must turn in a minimum of 1,000,000 shares in order to qualify. The convertible preferred stock will be protected from any future stock restructuring by the Company. For the complete terms and conditions of the stock buyback program, please visit the Company's Web site www.plasticonintl.com.
"We are very pleased to be able to offer our shareholders this exchange program. With our share repurchase program announcement today, we are reaffirming our confidence and optimism in the long-term future of the Company. As more information becomes available, it will be provided on our Web site," stated Jim Turek, CEO and President of Plasticon International, Inc.
About Plasticon International, Inc.:
Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, informational and directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader and an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products. |
