MonArc (MONA) 50 Million Share Buyback Program (UPDATE FILING)
Issuer joins as a Beneficiary claimant against Investors Hub
BEIJING, September 7, 2008 - MonArc Corporation, www.monacorporation.com, (Pink Sheets: MONA) further to the issuers announcement of September 5 2008 and a filing of September 6 2008 (replaced with this one) whereby amongst other things the issuer announced “ plans to conduct a share buyback of no less than 50 million shares either on the open market or directly from the stakeholders, and retire them back to the treasury.”
The issuer is pleased to provide a copy (see the attached) 2,000,000 share purchase confirmation towards the 50 million share purchase announcement. The issuer intends to post further updates and for obvious reasons it will not announce its timing.
The shares as announced are being purchased in the open market by the issuer’s corporate advisor who will at the completion of the buyback program call the certs that are currently in the streets name and surrender them to the issuer to be returned to the treasury. Other backers and supporters of this buyback and share purchase are Peter Woo, Investors Line, Xiang Family Trust, Corporate Bank PLC.
The issuer has ordered an actual certified share count from its transfer agent Heritage Trust and will post the same on Pink Sheets showing the current share structure sum and the updated share structure once the buy back is completed.
In other updates the issuer has joined in the litigation matter as a beneficiary against Investors Hub. A copy of the email intent and instructions are enclosed from the corporate advisors barrister, together with what appears to be a self serving letter from Investors Hub .
Email Unedited:
From frederick hawa <fredhawa@sympatico.ca>
To Corporate Account <minamargroup@gmail.com>
dateThu, Sep 4, 2008 at 8:14 AM
subject Investors Hub
mailed- bysympatico.ca
pinksheets.com |
