ACDU 1 For 1 Dividend News (1st Divestiture):
Richwood Eco Ventures Inc. Restructures Its Business Plans
Date : 03/17/2010 @ 12:28AM
Source : GlobeNewswire Inc.
Stock : Accredited Business Consolidators Corp. (ACDU)
Quote : 0.0065 0.0 (0.00%) @ 8:16AM
Richwood Eco Ventures Inc. Restructures Its Business Plans
MANAGUA, Nicaragua, March 17, 2010
GLOBE NEWSWIRE
Accredited Business Consolidators Corp. (Pink Sheets:ACDU) today announced that its affiliate, Richwood Eco Ventures, Inc., appointed Gertzen Perez as Vice President of the Company. Mr. Perez will lead the Company during a restructuring of its business plans. "Instead of being locked into a single arrangement, I intend to expand the Company to form new industrial ventures that provide employment opportunities throughout Nicaragua," Perez stated.
Richwood Eco Ventures will continue its wood export business. "However, I intend to add capacity to create a rapid expansion of the Company's abilities. This will include additional partnerships," Perez explained.
The change should not impair the Company's plan to divest Richwood Eco Ventures Inc. during the second quarter of 2010. "ACDU's plan is to separate REVI from its core operations, and the expansion will not alter the plans to issue a 1 for 1 stock dividend. In fact, the separate is crucial for expansion," Perez advised.
Richwood Eco Ventures intends to update shareholders next week as to the status of its relationship with Caribbean Wood Ventures, Inc., of Florida, and the progress of certain matters with the customer.
Accredited Business Consolidators Corp. is a diversified holding corporation. More information about the Company's subsidiaries may be obtained at www.accreditedbiz.com. The total number of authorized ACDU common shares is 450,000,000, and the number of common shares outstanding is 436,399,500. 329,086,200 shares are in the public float and on hand with CEDE & Co., 70,546,600 shares are restricted in certificate form, and 36,766,700 shares are unrestricted but in certificate form. There will be no increase in shares until at least August 30, 2010.
This is not an offer to sell securities. Statements made are forward-looking subject to risks and uncertainties. Statements included are made as of the date hereof, and the company undertakes no obligation to update such statements to reflect subsequent events or circumstances. Actual results could differ materially from anticipated results.
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