Tuesday, June 10 2008 7:54 PM, EST Carefree Group Inc. Announces Stock Split Business Wire "US Press Releases "
MIAMI BEACH, Fla .--(BUSINESS WIRE)--
Carefree Group Inc. (Pink Sheets:CRFE) completed a 10:1 reverse split of its issued and outstanding shares of common stock effective market open tomorrow June 11, 2008 , filing a certificate of change with NASDAQ, company officials said. The new symbol for the Company will be CRFU. Shareholders will be deemed to hold one share for every ten shares held previously. Exchange of stock certificates must be turned into the Transfer Agent as soon as reasonable and convenient for any shareholders possessing physical certificates. For all other shareholders whose shares are in electronic form, the conversion will occur automatically.
The majority of the shareholders, comprised principally of the management, affirmatively voted on May 12th, 2008 to consummate the reverse split to effect the rise in the price per share necessary to execute anticipated mergers and acquisitions with decreased dilution. Management hopes the reverse will positively affect the tradability of the Company's common stock in both liquidity and sustainability of price appreciation creating positive shareholder value.
Miami Beach based Carefree Group, Inc. represents a consortium of assets and networks in the industry of luxury. The Company's interests include assets throughout the luxury travel, aviation, automotive, yachting, entertainment, and real estate industries. Carefree Group delivers an unsurpassed experience of luxury in accommodation, travel, entertainment, personal security, and premiere concierge services to its elite clientele. Members enjoy unrivaled privileges through the exclusive use of Carefree's inventory of luxury properties, exotic cars, yachts, private aircrafts, and superior concierge services and amenities.
For more: www.carefreelifestyle.com.
Safe Harbor Statement
This release may include forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Carefree Group Inc.
