JOHNSTOWN, Pa., Nov. 5 EP Global Communications, Inc. (the Company), the parent company of Exceptional Parent (EP) magazine, has announced that the Company will be holding its annual meeting of shareholders on December 29, 2009 beginning at 10:00AM (EST) in Johnstown, PA at the Hampton Inn, 129 Commerce Court, Johnstown, PA 15904. One of the key purposes of the meeting will be to seek shareholder approval for a 50 to 1 reverse stock split on the Company's issued and outstanding common stock as recommended and approved by the Company's Board of Directors. In addition, two directors will be standing for re-election to the board, Ms. Diane Jones and Mr. Dan Baier.
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The affirmative vote of the majority of shares present in person, or represented by proxy, is required for approval of the reverse stock split. The Board of Directors of the Company recently approved the 50-to-1 reverse stock split, subject to shareholder approval. Under this reverse stock split each 50 shares of the Common Stock will be converted automatically into 1 share of the Company's Common Stock. To avoid the issuance of fractional shares of Common Stock, the Company will issue an additional share to all shareholders holding fractional shares. The effective date of the reverse stock split is anticipated to be on or about January 9, 2010.
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It is the position of the Board that the reverse split will have the effect of substantially increasing the number of shares the Company will be able to issue to new or existing shareholders because the number of issued and outstanding shares will be reduced one fiftieth-fold and the Company's authorized shares will remain the same. The Board has proposed the Reverse Split as one method to attract business investment and opportunities for the Company and the Board believes that the reverse stock split may improve the price level of the Company's stock, which might also help generate interest in the Company among investors as well as other business opportunities. The Company has an existing 504-D Plan for raising investment capital and there have been expressions of interest in the Company for this purpose.
Other items discussed at the Annual Meeting of Shareholders will be to elect Daniel J. Baier, CPA (term of 3 years) and Diane Jones (term of 3 years) as directors to serve for the terms stated and to transact such other business as may be properly brought before the shareholders at the meeting or any postponement or adjournment thereof.
The meeting will be held at 10:00AM on December 29, 2009 at the Hampton Inn, 129 Commerce Court, Johnstown, PA 15904.
About EP Global Communications, Inc.
EP Global Communications, Inc., parent company of Exceptional Parent (EP) magazine, is a 38-year-old, award-winning, multi-faceted publishing and communications company, which provides timely and indispensable resources and information to families and professionals caring for the needs of children and adults with disabilities.
Safe Harbor Statement
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the timing of projects due to the variability in size, scope and duration of projects, estimates made by management with respect to the Company's critical accounting policies, regulatory delays, clinical study results which lead to reductions or cancellations of projects, and other factors, including general economic conditions and regulatory developments, not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE EP Global Communications, Inc.
