CBNR -
Thursday November 5, 1:34 pm Eastern Time
Company Press Release
SOURCE: Cabec Energy Corporation
Cabec Energy Corp. Announces Record Date For
Stock Dividend
DALLAS, Nov. 5 /PRNewswire/ -- Cabec Energy Corp. (OTC Bulletin Board: CBNR - news) announced the record date for a stock dividend to all stockholders.
Cabec's Board of Directors has set November 20, 1998 as the record date for a stock dividend to its stockholders (other than the original shareholder [Michael John] of Cabec's wholly owned subsidiary, Plastic Pallet Production, Inc., and his assigns), on a pro rata basis, of all of the issued and outstanding stock of The Union Group, Inc., a Nevada corporation.
In preparation of this planned stock dividend, all of Cabec's energy related assets have been transferred to The Union Group, Inc. The management of The Union Group, Inc. is currently pursuing the registration of all stock to be distributed (by dividend) to Cabec's stockholders. Upon completion of the registration of The Union Group, Inc. stock, if such registration is successfully completed, The Union Group, Inc. will be a publicly held and traded company and the stock
distributed to Cabec's stockholders will be freely tradeable. However, until such registration is completed, the stock of The Union Group, Inc. that is distributed to Cabec's stockholders will be restricted and not freely tradeable.
Ralph Curton, Jr., Cabec's former President and Chairman of the Board, will serve as The Union Group, Inc.'s President, C.E.O., and Chairman of the Board until its first annual meeting of shareholders.
General Information:
Cabec plans to hold its upcoming Annual Stockholders' Meeting on December 12, 1998, at 10:00 a.m. Notices for such meeting will be sent out shortly.
For more information, contact Michael John, Cabec's current President, by telephone at 214-698-8330. Additional information about Cabec may be obtained by accessing Cabec's Internet web site at cabec.com. Information on Plastic Pallet Production, Inc., Cabec's principal subsidiary, may be obtained by accessing its Internet web site at ppplastic.com.
SOURCE: Cabec Energy Corporation
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