The stock split is designed to attract additional individual stockholders, increase the liquidity of the stock and diversify the stockholder base, all of which are in line with our overall growth strategy and shareholder interest.
St. Louis, MO (PRWEB) April 25, 2006
Solar Night Industries, Inc. (OTC Pink Sheets: SLND.PK) announced today that its Board of Directors ratified a proposed payment of a stock dividend of the Company's issued and outstanding common stock. The share dividend entitles each holder of the Company's common stock to receive payment of a dividend common share for every common share held by the shareholder on the pay date, May 8, 2006. The Board of Directors announced that the stock dividend will be paid and effective on May 8, 2006, subject to NASDAQ approval of the effective date. Stockholders of record on May 8, 2006 will be entitled to receive the common stock dividend payment. Solar Night anticipates that stock certificates representing each stockholder's additional dividend shares will be mailed to stockholders on May 20, 2006 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.
On April 21, 2006, Solar Night had 13,863,438 shares of common stock issued and outstanding. After the dividend payment, the Company will have approximately 27,726,876 million shares of its common stock issued and outstanding.
Jason Loyet, president and member of the Board of Directors of the Company, said, "The stock split is designed to attract additional individual stockholders, increase the liquidity of the stock and diversify the stockholder base, all of which are in line with our overall growth strategy and shareholder interest."
About Solar Night Industries, Inc.
Solar Night Industries, Inc., based in St. Louis, Missouri (USA), is a global manufacturer and distributor of innovative solar products. The company was founded by technology, manufacturing and sales executives with extensive industry experience and proven track records of success. The company has operations in St. Louis, Missouri and Sarasota, Florida, with affiliate offices in Mainland China. The company is developing products for consumer, business, and government markets. For more information, please visit http://www.solarnightindustries.com.
Safe Harbor Statement
This press release contains forward-looking statements which are made in reliance upon the “Safe Harbor” provisions of the Private Securities Litigation reform Act of 1995. Actual results could differ materially from the statements expressed or implied herein due to a variety of factors including, but not limited to: the development of Solar Night Industries’ solar cell technology and solar solutions, ability to secure additional financing, the successful marketing and distribution of Solar Night Industries’ products, market acceptance of Solar Night Industries’ products and technology, competition and timing of projects and trends in the solar industry, as well as other factors. The forward looking statements contained herein are made only as of the date of this press release, and Solar Night Industries undertakes no obligation to publicly update such forward looking statements to reflect subsequent events or circumstances.
Solar Night Industries, Inc.
Jason Loyet, President
Source: Solar Night Industries, Inc.