Finally!! LOL!! Tandem Energy Holdings, Inc. Announces Stock Trading Halt in Anticipation of Dissolution
Friday May 23, 5:59 pm ET
MIDLAND, Texas--(BUSINESS WIRE)--Tandem Energy Holdings, Inc. (Pink Sheets: TDYH - News) today announced that it has instructed NASDAQ to halt trading in the shares of its common stock effective the close of business on May 30, 2008, in anticipation of the impending dissolution of Tandem and the distribution on or about June 12, 2008, of its assets to its shareholders. As previously reported, the sole assets of Tandem are 7,692,308 shares of common stock of Platinum Energy Resources, Inc. (Platinum) that it received in connection with the sale of its oil and gas assets to Platinum in October 2007. In the dissolution distribution of Tandem’s assets, the Board of Directors and officers of Tandem and its subsidiaries will receive .2717 shares of Platinum common stock for each share of Tandem held, and the shareholders who purchased their stock directly from Tandem or in the open market will receive .5769 shares of Platinum common stock for each share of Tandem held.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about the Company, Platinum and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of the Company's and Platinum’s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: Business conditions in the U.S. and abroad; changing interpretations of generally accepted accounting principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which the Company is engaged; fluctuations in oil and gas prices and in customer demand; managing rapid growth; intensity of competition; general economic conditions; as well as other relevant risks detailed in Platinum's filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Neither the Company nor Platinum assumes any obligation to update the information contained in this press release.
Contact:
Tandem Energy Holdings Inc., Midland
Mickey Cunningham, 432-686-7136
mgcunningham@tandem-energy.com
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Source: Tandem Energy Holdings, Inc.
Cash is King until further notice!!!
My comments on companies are usually my opinion of long term success (years). The PPS may go up or down greatly in the meantime depending on the number of greedy suckers with money.
