BELLINGHAM, Wash., April 12, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) announced on April 2, 2007 that its board approved a dividend of the issued and outstanding common stock, which has the same effect as a 4:1 forward split of its common stock.
The stock dividend will be paid and effective on April 16, 2007. The share dividend entitles each holder of the Company's common stock to receive payment of a dividend of three common shares for every common share held by the shareholder on the pay date, April 16, 2007. API anticipates that stock certificates representing each stockholder's additional dividend shares will be mailed to stockholders on or about April 23, 2007 or, for shares held in brokerage accounts, shares will be delivered to the shareholder's broker for credit to the shareholder's account on the pay date. Payment of the dividend will not require an increase in the total number of the Company's authorized shares of common stock. No exchange of certificates is required and the Company intends to retain its current trading symbol.
API has also declared a dividend in the form of its shares in the Company's subsidiary, Hertz Controller Technologies Corporation (HCTC). All ASPZ shareholders of record as of April 15, 2007, will receive one (1) HCTC share for every two (2) ASPZ shares they own. For shares held in brokerage accounts, shares will be delivered to the shareholder's broker for credit to the shareholder's account on the pay date. For those holding ASPZ shares in street name, the mailing of the HCTC dividend shares will take place on or about April 23, 2007.
Please see www.hertzcontroller.biz
On March 31, 2007, API had 9,856,778 shares of common stock issued and outstanding. After the dividend payment, the Company will have approximately 39,427,112 shares of its common stock issued and outstanding and approximately 12,854,404 free trading shares in the float.
About Asia Properties, Inc.: Asia Properties, Inc. was established to invest in resorts and prime real estate in Thailand and Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments, where investors can invest in Asian real estate and hold the investment in the form of a security trading on a U.S. securities market. API is a Nevada corporation and trades on the pink sheets under the symbol "ASPZ". There are currently 9,856,778 fully diluted shares consisting of 3,213,601 free trading and 6,643,177 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.
The Asia Properties, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1733
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.