HELSINKI, Finland, Feb. 10, 2003 (PRIMEZONE) -- Artemis International Solutions Corporation (AISC), sub-group of Proha Plc, has implemented a reverse stock split of one-for-twenty-five (1:25) on February 7, 2003. Each twenty-five (25) shares of the Company's common stock issued and outstanding will be automatically converted into one share of common stock. Artemis' shareholders approved the reverse stock split at a special meeting held on Monday, October 21, 2002.
Prior to the reverse split, the Company had approximately 250,000,000 shares of common stock outstanding. Following the reverse split, the Company now has approximately 10,000,000 shares outstanding. Holders of less than one share after the split will receive cash in lieu of fractional shares.
Commencing on February 7, 2003, shares of Artemis common stock are traded on the OTCBB under the new symbol "AMSIV" for an interim period approximating seven to 14 days. During this interim period, new share certificates for the Company's stock will be issued as a result of the stock split. Once the certificates are received, the Company's new symbol will be "AMSI." (The symbol prior to the stock split was "AISC.")
The reverse stock split is a technicality that does not have an effect on the size of Proha's ownership of AISC or on the Proha share or on trading on Proha shares.
Proha in brief
Proha is a leading globally operating portfolio and project management solution provider. The solutions help the corporate customers to carry out their strategy, to allocate their resources productively and to control their operative functions as profitably as possible. The Proha Group's net sales were EUR 82.8 million in 2001. Over 4/5 of net sales originates from outside Finland.
Proha Plc
Pekka Pere, President and CEO
More information:
Proha PLC CEO, Pekka Pere tel. 358 (0)20 4362 000 pekka.pere@proha.com http://www.proha.com This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: www.waymaker.net/bitonline/2003/02/10/20030210BIT00030/wkr0001.doc www.waymaker.net/bitonline/2003/02/10/20030210BIT00030/wkr0002.pdf