ANVH DD UPDATES
Share Structure, as of July, 31, 2008,
has been the same since reorganizing the company and becoming public.
A/S- 500,000,000
O/S- 100,011,777
Float- 25,011,777
Preferred- 1,553,647 RESTRICTED UNTIL AUGUST 2011
Anviron Announces Long-Term Debt Reduction and Share Structure Changes
Wednesday August 27, 8:30 am ET
IRVING, Texas--(BUSINESS WIRE)--The Anviron Holding Company (Pinksheets:ANVH - News) (“Anviron”), a manufacturer and marketer of "Clean & Green" products and technology, announced today that it has filed an Amendment to the Articles of Incorporation reducing the conversion rights of its preferred stock. In addition, the company announced the reduction of its remaining long-term debt by $239,000 USD.
"As our cash reserves begin to grow after the trying and difficult growth phase we have experienced, the company has been able to reduce our long term debt by more than $239,000 in the month of August. This reduction is a pivotal step in controlling our shareholder base, as this reduction also eliminates the last remaining convertible note posted on the books of the company,” stated Marcie Corbin acting CFO of Anviron.
The company in an effort to position itself in the most favorable like to investors has taken the steps in cooperation with its largest shareholders to reduce the current conversion rights of its preferred stock. “We have filed today an amendment to the articles of incorporation that will reduce the current conversion rights of our preferred stock and place a three year vesting provision on the shares,” stated Polly Anderson – Investor Relations Manager for Anviron. “Upon completion of this task with the State of Delaware, we will have dramatically increased our diluted earning per share calculations for the company and reduced investors concerns over potential short term dilution into the market.”
The new provisions will require a three-year vesting of the preferred shares, prior to any conversion into common stock in the company. The voting rights of the shares have not been modified, and the “founders” will continue to have the right to convert common shares to preferred shares without notice.
Anviron is a company dedicated to bringing to market "Clean Solutions to Complex Problems" by offering a wide range of biodegradable, environmentally friendly products and technologies that will substitute for many of the hazardous chemicals commonly used all over the world. For information about Anviron and its product offerings visit us on the web at anviron.com.
This press release contains forward-looking statements regarding Anviron within the meaning of Section 27A of the Securities Act of 1933 as amended, as such, may involve risks and uncertainties. Such statements are based on management's current expectations and cannot be guaranteed. The forward-looking statements discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors affecting Anviron. Forward-looking statements speak only as of the date on which they are made and Anviron undertakes no obligation to publicly revise any forward-looking statement based on the result of new information, future events, or otherwise.
Contact:
for The Anviron Holding Company
Mr. Tom Nelson, 480-326-8577
Fax: 480-836-1331
tom.nelson@tenassoc.com
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