TORONTO, Feb. 13, 2008 (PRIME NEWSWIRE) -- Ofek Capital Corp. (Pink Sheets:OFEK) announces that it completed the consolidation of its common shares and effective today, its new post consolidation common shares are to start trading under the new symbol OFEK instead of the old OFCC symbol.
Ofek, pursuant to shareholders' approval obtained back on December 14, 2006, consolidated its common shares on the basis of 100 pre-consolidated shares to one post-consolidation share and all fractioned shares have been rounded up to a full share.
Following the completion of this consolidation, Ofek's total issued and outstanding common shares is currently 959,206.
"The consolidation of the common shares should increase the competitiveness of Ofek's shares in the marketplace, attract new shareholders, and enhance Ofek's shares' currency value," said Shalom Romm, Ofek's Chief Executive Officer.
Ofek is committed to seek and acquire operating assets and establish Ofek as a management and holding company, pursuant to Ofek's business mandate.
About Ofek Capital
Ofek (www.OfekCapital.com) is a management and holding company, operating through its subsidiaries.
* Ofek has a significant interest in Kaptor Financial Inc., an Ontario based financial services enterprise, providing merchant banking and automotive financing. * Ofek is continually evaluating acquisition prospects. Ofek expects future acquisitions to enhance its balance sheet and shareholders' value.
This release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, which reflect management's expectations regarding Ofek's future growth, results of operations, performance and business prospects and opportunities. These statements reflect management's current beliefs and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. A number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Ofek and its management take no obligation to update or correct any or such forward-looking statements.