SANTA ANA, Calif., June 25, 2003 (PRIMEZONE) -- American Hospital Resources, Inc. (OTCBB:AMHR) recently announced a special dividend linked directly with its strategy of acquiring profitable pharmacy outsourcing companies. Series "D" Preferred Stock (D1 Preferred) will be issued directly to all beneficial shareholders at a ratio of 1 share for every 20 shares of common stock held. After consideration, the Board of Directors has resolved to move the record date to July 15, 2003 in order to allow sufficient time for shareholder notification. Fractional shares will be rounded to the nearest whole share. Shareholders can obtain their dividend certificates in two ways. First, if a shareholder is holding a physical certificate issued in his name, no action is required as the transfer agent will mail the dividend shares directly to the shareholder. Any shareholder who has had an address change since their certificates were first issued should notify the transfer agent below. Second, if the stock is held in a brokerage account, the shareholder must take physical delivery by July 15 or promptly call their broker to confirm that they are included on the beneficial shareholder list. If you have any questions, you can contact our investor relations department at the number given below.
The Company recently was a presenter at a Private Equity Forum in New York City. As a result of the response, the Board of Directors has canceled a previous resolution authorizing the issuance of up to 720,000 shares of common stock to be used to pay for services. None of these previously authorized shares have or shall be issued. When asked about the conference, Christopher Wheeler, founder and Chief Executive Officer of AMHR, stated, "We are very pleased with the response our presentation in New York generated. Resent developments with the Company have expanded the range of financing options available. As a result of these changes, AMHR is being very selective in choosing sources of capital that will give the Company the tools needed to continue to expand by acquisition. An additional benefit is that current developments have eliminated the need to rely on this issuance of stock to meet company obligations. All viable pathways to our stated goals are being appraised on their relative merits."
In the matter of the pending stock dividend, Mr. Wheeler went on to say, "We want to do everything possible to insure that all beneficial shareholders receive their certificates in a timely manner. The first certificates will be mailed by the transfer agent to those shareholders holding physical certificates. Please make sure that the transfer agent has your current address. If you chose to take physical possession from your broker, this should be done as soon as possible so your stock can be issued by the record date. If you are unable or unwilling to hold your stock in physical form, please check with your broker shortly after the record date to make sure that your name and ownership is properly reflected on the beneficial ownership forms they are required to submit to the transfer agent. Any problems in this matter should be referred to our investor relations contact."
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risk and uncertainties, including but not limited to economic, competitive, governmental, political and technological factors affecting the Company's revenues, operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.