MARKHAM, ON -- (MARKET WIRE) -- 03/08/07 -- Anti Aging Medical Group Corp. (PINKSHEETS: AAGM) announces that at the opening of trading on March 9th, 2007, the Company has effected a 1 for 250 reverse split of all of the number of issued and outstanding shares of common stock without correspondingly decreasing the number of authorized shares of common stock. Pursuant to the reverse split, every two hundred & fifty (250) shares of common stock issued and outstanding as of the 9th of March 2007, represent one (1) share of common stock. No fractional shares of common stock shall be issued in connection with the reverse split, and, in lieu thereof, the Company shall round up to the nearest whole share any fraction of a share that any stockholder would otherwise receive. The reverse split will reduce the number of shares of the Company's common stock outstanding from approximately 2.1 billion to approximately 8.5 million shares.
The Company implements a reverse stock split because it believes its shareholders would benefit from a capital structure more appropriate for a company of its operational and financial status. The Company expects that a reverse stock split, which will result in a higher price per share and corresponding lower number of total shares issued and outstanding at the time of implementation, should help to increase the marketability of its stock to potential new investors and the ability of large institutional investors to hold its shares, while decreasing the volatility of its stock price. The Company believes that these changes will help to better position the company to capture new growth opportunities.
Anti Aging Medical Group's new trading symbol on the Pink Sheets is AAGR.
Anti Aging Medical Group new CUSIP number is 03703T 20 9.
QUESTIONS AND ANSWERS ABOUT THE ACTION
Q: When do you expect the reverse split to be effected?
A: The effective date of the reverse split will be March 9, 2007 as declared by the Corporation's board of directors in coordination with the Corporation's transfer agent and the NASD.
Q: Why was I not asked to vote?
A: The holders of a majority of the issued and outstanding shares of common stock have already approved the action pursuant to a written consent in lieu of a meeting. Such approval is sufficient under Delaware law, and no further approval by our stockholders was required.
Q: Will fractional shares of the Corporation's common stock be distributed?
A: No. Fractional shares of the Corporation's common stock will result from the reverse split. Stockholders of the Corporation entitled to receive a fractional share as a result of the reverse split will instead have their fractional share rounded up to receive an additional whole share.
Q: What do I need to do now?
A: Nothing. This is purely for your information and does not require or request you to do anything.
About Anti Aging Medical Group Corp.
We are a specialty pharmaceutical company focused on developing, acquiring and commercializing innovative and scientifically proven products that offer both health maintenance and appearance enhancing benefits to all of us. For more information about us please visit our website at www.aamgcorp.com.
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Contact:
Anti Aging Medical Group Corp. E-mail: Email Contact
Source: Anti Aging Medical Group Corp.
Public Companies Associated with this story: AAGM
Knobias Subject Codes Associated with this story: Stock Split
Anti Aging Medical Group Corp. (AAGM) announces that at the opening of trading on March 9th, 2007, the Company has effected a 1 for 250 reverse split of all of the number of issued and outstanding shares of common stock without correspondingly decreasing the number of authorized shares of common stock. Pursuant to the reverse split, every two hundred & fifty (250) shares of common stock issued and outstanding as of the 9th of March 2007, represent one (1) share of common stock. No fractional shares of common stock shall be issued in connection with the reverse split, and, in lieu thereof, the Company shall round up to the nearest whole share any fraction of a share that any stockholder would otherwise receive. The reverse split will reduce the number of shares of the Company's common stock outstanding from approximately 2.1 billion to approximately 8.5 million shares.
Public Companies Associated with this story: AAGM
Knobias Subject Codes Associated with this story: Important Co. News Stock Split
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