News for 'CLDR' - (Cloud Centric Systems, Inc. Announces Reduction in Issued Share Capital CLDR Officers Retire Their Common Stock & Announce a Reduction in the Authorised Share Capital)
LONDON, Dec 15, 2010 (MARKETWIRE via COMTEX) -- Cloud Centric Systems, Inc.
(PINKSHEETS: CLDR) announces that its Executives are to retire their Common
Stock and lock themselves in to the business with preferred shares that cannot
be converted until 2012. The leading executives at Cloud Centric are returning
their common shares to the treasury and are increasing their continued
commitment to the business by taking 'locked in' Preference shares in exchange.
"Naturally, our first priority is to our shareholder base and, as such, we are
removing any common shares the officers in the business have and locking them
into additional years ensuring the business continues to flourish under their
guidance," stated David Lovatt, CEO of Cloud Centric Systems, Inc.
"Equally as importantly, Cloud Centric will also be decreasing the Authorised
Share Capital in Q1 2011 to further give shareholders and potential investors
the message that dilution is not part of the plan," continued David Lovatt.
Cloud Centric Systems, Inc. recently announced that its strategy to increase
shareholder value took its first step with the raising of the otcmarkets.com
status from "Stop -- No Information" to "Yield -- Limited Information." It also
stated that it plans to upload its end of quarter Information & Disclosure
Statement when the time comes at the end of December.
About Cloud Centric Systems: Cloud Centric Systems specializes in cloud based
technologies that use the Internet to deliver business critical applications via
a global network of partners. Cloud Centric Systems plans to grow via strategic
acquisition over the coming 12 months as well as strong sales through its
subsidiaries, Cloud Centric (UK) and VizualMobile Ltd.
For more information, please visit www.cloudcentricsystems.com
Safe Harbor Statement: The information posted in this release may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. You can identify these statements by use of the
words "may," "will," "should," "plans," "expects," "anticipates," "continue,"
"estimate," "project," "intend," and similar expressions. Forward-looking
statements involve risks and uncertainties that could cause actual results to
differ materially from those projected or anticipated. These risks and
uncertainties include, but are not limited to, general economic and business
conditions, effects of continued geopolitical unrest and regional conflicts,
competition, changes in technology and methods of marketing, delays in
completing various engineering and manufacturing programs, changes in customer
order patterns, changes in product mix, continued success in technological
advances and delivering technological innovations, shortages in components,
production delays due to performance quality issues with outsourced components,
and various other factors beyond the Company's control.
Contact:
Cloud Centric Systems, Inc.
1 (347) 404 5346
SOURCE: Cloud Centric Systems, Inc.
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SUBJECT CODE: Telecom:Telecommunication Services
Computers and Software:Hardware
Source: Comtex Wall Street News
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