ICBM came out with dividend news today. See below:
ICBS Limited, Board of Directors Approves a 10% Stock Dividend; Majority Shareholders and Officers Waive Rights to Receive the Dividend
Mar 26, 2007 9:35:00 AM
NEW YORK, NY, and MONTREAL, QC, March 26 /PRNewswire-FirstCall/ - ICBS Limited (ICBS) (Pink Sheets :ICBM) a business development and management firm located in New York and Canada, Today announced that it has declared a 10% stock dividend to shareholders of record at the close of business on April 15, 2007. Majority shareholders and Officers will not receive the dividend. The waiver reflects the desire of both majority shareholders and ICBS Ltd officers to reward only the minority shareholders.
"We felt the loyalty and support from our stockholders should be rewarded", said Garth McIntosh, President and CEO, "We wanted to say thank you in the best way we knew how".
The company also agreed that its share structure will be updated on the company's website and pinksheets.com to reflect the current outstanding common share structure of 56,690,333, Restricted Shares and the Public Float of 42,455,780 .
Shareholders will not be required to take any action in order to receive the stock dividend. After the payment date, shareholders will be sent a certificate for the additional shares representing the stock dividend. If the shares are held in a brokerage account in the name of your broker, the additional shares will be sent directly to your broker on your behalf. All other certificates will be mailed to shareholders at the address the transfer agent has on file. The stock dividend will be administered by Capital Transfer Agency Inc., Toronto, ON M5H 2Y, the company's transfer agent.
The stock dividend is subject to applicable Federal and State securities laws. Shareholders are encouraged to consult their professional advisors regarding the tax implications of the stock dividend.
About ICBS Limited.
ICBS Limited is an investment and business development company that currently owns positions or Joint Ventures in the following companies;
Joint Venture Partnership with ADNST Communications Ltd.
www.adnstcom.com
100%, ownership position in Ramapo Valley Brewery Ltd., www.rvbrewery.com
40%, ownership of DNA Distribution Inc. www.dnagojiplus.com
50%, ownership of Northern Lights Airlines Ltd.
75% Ownership of Canadian Bio Med Systems Inc. www.canadianbiomed.com
You can visit ICBS at; www.icbs.ca
NB. This news release includes statements that constitute forward-looking statements. Please be aware that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's disclosure documents.
SOURCE Inter Canadian Business Service
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Garth McIntosh
President & CEO
888-932-4402
www.icbs.ca; Source: ICBS Limited
