pennylenny..you and other "naysayers" have presented some interest in the announced/declared dividend pay-out and Buzz Inc future IPO/listing on the 'HKE'..
Not sure why questions or scenario's about this company plans are being raised..
I believe those shareholders currently owning 'BZTG' stock for the purpose of obtaining this declared dividend, will have to wait for official instruction from 'Buzz Inc' on how to progress once this company actually announces more specific information..
As for the payment of said dividend though it's newly formed entity 'Buzz Inc'; I must assume it's for financial, tax and/or accounting reasons..I don't believe that 'Shayne Heffernan' intends to keep this company private, or he wouldn't have announce his plans for a IPO/listing on the HKE..
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FYI..
Hong Kong June 23rd 2009 Buzz Inc is pleased to reaffirm the dividend of .009c per shares derived from mining sales. The dividend will attach to all 300 odd million shares on the 30th of June 2009. The dividend will remain attached to the stock until the stocks conversion to Buzz Inc shares which will be no later than August 31st, for those who are eager to take their dividend we will begin accepting the transfers on the 7th of August.
There has been a great deal of shareholder discussion regarding listing rules etc etc in relation to Hong Kong, all of that discussion has occurred without the inclusion of the fastest way to gain a listing, a take over.
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Buzz Inc, Letter from the CEO
Jun 10, 2009 (M2 PRESSWIRE via COMTEX) --It is great to take the helm of Buzz Inc, and I am looking forward to working with everyone and expanding our Board of Directors. Buzz Inc has been coming together as a company for many years, and it is my role now to complete the company. Today we find ourselves at the very beginning of that task. Positive change is now underway across the company but there is much work to do.
It is my firm belief that financial strength is the foundation for all our corporate aspirations. The bottom line is, the bottom line, and building our financial strength is my number 1 priority.
The financial objectives that I have set are:
* Double-digit operating margins in all operational units;
* Strong cash generation without debt;
* Consistent multi-sector growth greater than the market;
* Improved share price;
Buzz Inc has a proud history. The company has consistently grown and developed without any external funding. We intend to continue that tradition, and start a new tradition of delivering consistent value to shareholders. It won’t happen tonight, but the change is underway. As I write this, I have been in charge for a few days. I have relocated the entire family to Hong Kong and will set about the transition to being 100% Buzz Inc. Our team wants to build this company and is ready for the tough roads ahead. Although sacrificing life on the beach, weekends on the boat and what many would consider a perfect life, I can’t think of a place I would rather be right now than leading Buzz Inc on its way to success.
In the coming weeks you will see changes to the sites, a site audit is underway to make sure there is consistency and professionalism at all levels. I have ordered and approved funding for staff to be dispatched to 3 gold mining sites in Asia that the company has, and for management to start negotiations to finalize a tentative Oil reserve in Asia that we have held for some time. Iron Ore, Gold and Oil are my prime targets for our mining section.
Bztg shareholders are entitled to 1 Buzz Inc share for each Bztg share held. The share capital of Buzz-Inc is exactly the same as Bztg and the company has stated on numerous occasions there will be no dilution of the share capital. The company has also remained debt free and has only 1 class of share, no preferred shares, and no charges over assets or any other encumbrances. This will not change.
I will be settled in Hong Kong this week and new contact details will be posted for me.
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Jun 08, 2009 (M2 PRESSWIRE via COMTEX) -- As a result of Buzz Inc directors accepting an offer from a private family trust a number of changes have been made today.
Shayne Heffernan will take over as CEO/Executive Director of Buzz Inc. New management teams have been implemented in each division. The company will relocate operational head offices to Hong Kong and Corporate head office will be established in the British Virgin Islands.
Under the agreement Buzz Inc will take over the personal offices and staff of Mr Heffernan however will not assume the expenses for 2 years from today.
As part of taking over those offices a number of new opportunities have opened for Buzz Inc in China and in the Financial Services Sector in Asia.
Mr Heffernan brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
A controversial individual Mr Heffernan served as ambassador to the pacific nations on behalf of Manual Tilman's unsanctioned Senate of Timor Lorosae prior to the nations independance. He worked closely with Mr Tilman establishing relations in the pacific nations, working with UNTEAT and consulting in relation to East Timors oil fields post in dependance.
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