NEW YORK, March 6, 2000 (PRIMEZONE) -- Voicenet, Inc. (OTCBB:VNET) today announced that its board of directors has declared a two for one stock split in the form of a dividend. The record date will be March 17th, and thereafter on or about April 7th the transfer agent will mail certificates representing one share for each share held on the record date. Following the effective date of the split the company will have approximately 9.83 million shares of common stock outstanding.
In addition, the Board of Voicenet and the majority shareholder, Voicenet (Aust.), Ltd. acting by written consent has approved an increase in the company's authorized common shares to 50,000,000 from the currently authorized 10,000,000 common shares.
Frank Carr, Chairman of the company stated: " The increase in the authorized shares is considered an important step in the company's long term strategy of seeking growth through not only the development and commercialization of our unique technology, but also in continually reviewing opportunities that arise with respect to growing via acquisition of other entities whose technologies are leading edge. Our Board and management have taken the above actions focusing on our long term commitment of enhancing shareholder value."
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This press release contains forward-looking statements which are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions including without limitation such words as "expects","believes", "seeks" and "anticipates", reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, and other factors.The actual results may differ materially from any forward-looking statements due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.