Yahoo screws up again. GNII under GNNI
biz.yahoo.com
GlobeNet Board Approves Spin Off of GX
DALLAS--(BUSINESS WIRE)--May 21, 1998--The Board of Directors of GlobeNet International I, Inc., (OTC:GNNI - news) today approved a plan to spin off its wholly-owned subsidiary, Great Xpectations Marketing, Inc. (GX) by means of a stock dividend. GlobeNet shareholders of record Friday, June 5, 1998, will receive one share of GX for each 2 shares of GlobeNet.
The company plans to file an S1 registration of the dividend shares.
Clinton Howard, CEO of GlobeNet, stated, ''We believe the spin off will be of benefit to the independent growth of both companies and to the shareholders.''
Great Xpectations Marketing sells a line of automobile care products and nutritional supplements through independent distributors throughout the United States.
GlobeNet (OTC:GNNI - news) markets a line of personal care products, primarily dietary supplements under the brand name Royal BodyCare, directly through distributors in 17 countries and globally through the Internet.
Contact:
GlobeNet International I, Dallas
Steve Brown, 972/401-0052
E-mail: sbrown@rbcglobenet.com |
