EP Global Communications, Inc. Announces Details on Restructuring Plans and Upcoming Shareholder Meeting
(firmenpresse) - JOHNSTOWN, PA -- (Marketwire) -- 04/19/12 -- EP Global Communications Inc(the Company) (PINKSHEETS: EPGL) announces that it will ask current shareholders to approve a 10:1 reverse split of common shares. All major debt holders including the liquidator of AJW funds, have agreed to convert 100% of the Company's debt to equity. Authorized shares will remain at the present level with no increase in shares.
Upon approval of the restructuring proposal by company shareholders, the Company will be provided with exclusive rights to a medical device with FDA 510k clearance for marketing, by the new equity partners involved, via merger. The acquisition will be in exchange for equity in the Company and there will not be additional debt incurred by the Company as a result. Current Company management will resign amicably and new management with broad experience in the medical device industry will be assigned over coming weeks, including top physicians and scientists. The company will remain traded under the ticker symbol of EPGL, but will make a name change.
Proxy materials are presently being prepared and more details will be mailed to shareholders about a special shareholder meeting and proxy vote opportunity within coming days.
EP Global Communications, Inc., parent company of Exceptional Parent (EP) magazine, is a 40-year-old, award-winning, multi-media publishing and communications company, providing timely and indispensable resources and information to families and professionals caring for the needs of children and adults with disabilities and special health care needs, including families in the U.S. Military.
Safe Harbor Statement
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the timing of projects due to the variability in size, scope and duration of projects, estimates made by management with respect to the Company's critical accounting policies, regulatory delays, clinical study results which lead to reductions or cancellations of projects, and other factors, including general economic conditions and regulatory developments, not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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Datum: 19.04.2012 - 19:50 Uhr
Sprache: Deutsch
News-ID 137289
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