SETY News
FT. LAUDERDALE, Fla. , May 18, 2012 /PRNewswire/ -- Star Entertainment Group, Inc. (OTC: SETY.PK) announced that the Board of Directors have passed a Resolution authorizing its Transfer Agent to issue and deliver the Stock Dividend announced March 20, 2012 .
As per filings with FINRA, the Resolution sets the Record date at May 21, 2012 and the Distribution Date at June 1 , 2012. The Company's Transfer Agent has been formally advised.
In anticipation of new growth opportunities and as a loyalty benefit to all shareholders, the Company had voted to pay all shareholders on record, a stock dividend of 3 new shares will be issued for every 100 owned.
The Ex-Dividend Date will be set at May 18th, 2012 . For the purpose of clarity, the standard Ex-Dividend Date rules will apply. If a stockholder buys a dividend paying stock one day before the Ex-Dividend Date, you will still qualify for the Stock Dividend. However, if you buy on the published date of the Ex Dividend, in this case May 18th, 2012 , the shares won't be eligible for the Stock Dividend. Conversely, if you want to sell a stock and still receive the dividend that has been declared, you need to sell on (or after) the Ex-Dividend Day.
The date of payment for the stock dividends to all qualifying shareholders has been set at June 1st, 2012 . New share certificates will be mailed directly to all shareholders of record by the Company's Transfer Agent. In the interim, we advise all stockholders to contact their brokers to ensure their mailing information is updated and correct in order that stock certificates arrive at their proper destination.
The Company had previously announced that Tranzistor Systems released its BETA Tranzistor Radio application to the Android Market and will soon have its iPhone app in the Apple Store pending Apple's final review of the technology.
Internet radio is seeing explosive growth. According to just-released survey data from Edison Research and Arbitron, 103 million Americans are now accessing online radio in some form, in any month.
The Company previously announced the signing of a Letter of Intent to acquire Tranzistor Systems Inc., a company engaged in mobile music entertainment products and services including internet radio, fan applications, and eCommerce products.
Tranzistor Systems offers a difference in internet radio through its programmed approach and will shortly begin the rollout of its network and stations. Upon full rollout, Tranzistor Radio will offer many options in programming from country, cooking, rock, alternative, and many more. Tranzistor Radio will also be Bluetooth-compliant and be automotive-ready.
The radio application will be ad-supported as well as offer a premium subscription. With 40 percent of the US population 12 or over, and a large and growing population of Americans now listening to internet radio, management estimates a strong growth pattern in both advertising/sponsorship dollars as well as subscriptions as a result of Tranzistor Only content. The BETA Tranzistor Radio application can be downloaded at www.tranzistorradio.com .
Source: PR Newswire ( http://s.tt/1ceNk )
