BRANSON, Mo., Aug. 25, 2008 (GLOBE NEWSWIRE) -- The mandatory share certificate exchange for Hollund Industrial Marine Inc., formerly Hollund Industrial, Inc. (Pink Sheets:HIMR) is progressing smoothly.
Certificates representing 238,345,934 Common shares, roughly 90% of the issued and outstanding shares have already been received and processed by Hollund's transfer agent, Transfer Online, Inc.
Hollund instituted the mandatory certificate exchange as it changed its name from Hollund Industrial, Inc. with the CUSIP number 435727102 to Hollund Industrial Marine Inc. with the CUSIP number 435730106 and trading symbol to HIMR on August 18, 2008.
"The name change is one of many positive steps forward in our growth as an industrial marine equipment and services company," explained Michael Lacy, president and chief executive officer of Hollund. "Phase I commercialization of the TigerLynk AR-120 'Alpha System' is progressing as planned. Additionally, we've been executing our strategic plan to advance our stock listing from the pink sheets to the OTC Bulletin Board. These actions reflect our commitment to enhancing shareholder value and they bring us closer to achieving market success with TigerLynk."
IMPORTANT NOTICE: This is a mandatory share exchange. As part of the name change and ticker symbol change, all issued and outstanding shares of Hollund's current Common stock MUST be exchanged for new certificates bearing the name Hollund Industrial Marine Inc. with the CUSIP number 435730106, and the name of the beneficial owner. No new certificate(s) will be issued to a shareholder until the shareholder has surrendered the old stock certificate(s). Shares that are not presented to the Company's transfer agent, Transfer Online, Inc., for exchange by October 2, 2008 will be declared null and void.
STOCK CERTIFICATE EXCHANGE PROCEDURE
For instructions on how to complete the mandatory share certificate exchange, contact the Company by Email: info@hollundindustrial.com; Tel: (417) 339-4553; Fax: (417) 339-4552; Mail: Hollund Industrial Marine Inc., 3000 Green Mountain Drive, Suite 107-413, Branson, MO, 65616; or Online: www.hollundindustrial.com/mandatoryexchange.html. You can also receive these instructions by contacting the Company's transfer agent, Transfer Online, Inc., 317 SW Alder Street, Second Floor, Portland, OR, 97204. Tel: (503) 227-2950; Fax: (503) 227-6874.
"I am pleased by our progress in completing the mandatory share exchange. We thank our shareholders, the transfer agent, and the brokerage community for their continued patience and support during the mandatory exchange procedure," noted Mr. Lacy. "We understand that this is a time-consuming task for everyone involved, but it is a necessary part of our effort to protect and enhance shareholder value and grow the company."
About Hollund Industrial Marine Inc.
Incorporated in Washington, Hollund Industrial Marine Inc., formerly Hollund Industrial, Inc. (Pink Sheets:HIMR) is an industrial marine equipment and services company. Hollund Industrial Robotics Systems, Inc., a wholly owned subsidiary, has the exclusive patents to TigerLynk Technology. TigerLynk is an innovative Underwater Remote Manipulator System ("Machine") being developed by Hollund for offshore energy, marine construction, forestry, mining, and flood emergency response applications. For more information on Hollund, visit www.HollundIndustrial.com. For more information on TigerLynk Technology and Equipment, visit www.TigerLynk.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "estimated," "believe," "optimistic," "expect," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in forward-looking statements. Such risks and uncertainties include, but are not limited to, unfavorable market conditions, increased competition, limited working capital, and failure to implement business strategies, actions by regulatory agencies, and other risks.