GLCC News Good Life Corp (GLCC) To Reduce Outstanding By Up ...
Monday, June 16, 2008 11:56 AM
Hi Mr Goodlife I have been with out a computer for a week or so can you bring me up to date on MONA and GLCC thank most kindly.
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News for 'GLCC' - (Good Life Corp (GLCC) To Reduce Outstanding By Up To 37 Million Shares)
BEIJING, June 16, 2008 /PRNewswire-FirstCall via COMTEX/ -- PINKSHEETS: GLCC
www.goodlifechina.com Good Life China Corp today unveiled plans today to reduce
its outstanding share count by as much as further 25 million shares. Mr. Yang a
company spokesperson said, "Just so that we are clear, and to avoid any possible
misinterpretations this further 25 million shares is in addition to the 12
million shares dividend recall, bringing the total count to 37 million share
reduction. When all the dust settles with all of the reductions, recalls and
planned buy backs, our outstanding share structure may be about 100 million
shares, more or less, with Asia Pacific (the holding and controlling company of
GLCC) being the majority shareholder.
This 25 million share reduction will be done effective immediately, and will be
done by a share cancellation order with the issuers transfer agent Heritage
Trust. Other than completing further filings on Pink Sheets on this topic,
(within this quarter) the issuer does not plan on making more announcements on
this topic as it waits for the market to simply correct itself. It will be
interesting for us to see what exactly will remain to trade and how the market
will do this without us having to conduct a complete share recall, and a
complete audit. Just to bring this all into focus, any further massive cuts such
as this one in our outstanding share structure, would have us being reverted
back to a single shareholder group or even back to a private company. Our
authorized share structure remains undisturbed"
In other company updates, the issuer continues moving forward with all announced
projects and expansions as previously announced. Although the short sellers have
temporarily redirected the spotlight from the issuers expansion aspirations to
its share price, the issuer is dedicated, focused and in a "all business mode"
as it pushes forward with its roll out of stores in China. The issuer should
also be in a position to announce our new Olympic sponsored athlete within a
week or so and our new athletic spokesperson. Mr. Yang concluded "the recent
Olympic sponsorship announcement has opened a whole new set of doors of
opportunities for us that were previously felt to be closed. It is becoming
clear to us why big business take up such a major role in the Olympics as the
benefits far outweigh the costs associated. The issuer remains extremely excited
about the future possibilities for its business with follow up announcements and
expansions planned as soon as completed.
Safe Harbor statement under the Private Securities Litigation Reform Act of
1995: Certain forward information contained in this release contains
forward-looking statements that involve risk and uncertainties, including but
not limited to, those relating to development and expansion activities, domestic
and global conditions, and market competition.
SOURCE Good Life China Corporation
www.prnewswire.com
Copyright (C) 2008 PR Newswire. All rights reserved
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Source: Comtext Market News
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