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$ARNH <> The Automotive Resource Network Board of Directors Announces Plans to Decrease Company's Total Authorized Shares



The Automotive Resource Network Board of Directors Announces Plans to Decrease Company's Total Authorized Shares


Automotive Res Ntwrk Hldg (PC) (USOTC:ARNH)
Intraday Stock Chart

Today : Wednesday 4 April 2012

(Pinksheets: ARNH - News) The Automotive Resource Network Holdings (ARNH.PK) announced today that its Board of Directors has agreed to decrease the issued and outstanding shares in the company as part of an overall plan to significantly reduce the company's total authorized shares.

The Board's actions were announced at the conclusion of a series of meetings spanning two days involving TheARN's Board of Directors, top Executives and other key personnel in Fort Lauderdale, Florida. As a result of this initiative, the company's total authorized shares will immediately be reduced from from 800 million to 700 million shares (550 million common plus 150 million preferred

). The Board also unanimously agreed to consider further reductions of both total company shares and their personal holdings in the near future if it becomes clear that doing so will be in the company's best long-term interests.

Kathy Roberton, CEO of TheARN, commented, "The Fort Lauderdale sessions were extremely positive and productive and have put us on a firm footing as we shift our focus to enhancing our brand and mass marketing our products. I am very excited about the results of these discussions and firmly believe that the decisions that were put into motion this week will increase shareholder value and promote the long term vision of the company. We remain fully committed to full disclosure to our shareholders in the future as each opportunity manifests itself into a revenue bearing model."

Paul Redmayne, COO of ARNH added, "I am very pleased not only with actions of the Board but also with the contributions of the executive team, the DRTV professionals and the network marketing individuals who were in attendance at these meetings. After observing these individuals in action, I am more convinced than ever that we have assembled a strong and effective team that will lead the company to great success."