Hollund Industrial Marine to Enact Stock Retirement Program - Anticipates Removing 3.5 Billion Shares Out of Market
2012-08-01 09:06 ET - News Release
BLAINE, Wash., Aug. 1, 2012 (GLOBE NEWSWIRE) -- Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") announced the company has decided on a plan to reduce the current Issued and Outstanding share amount by 3.5 Billion Shares of common stock – through the retirement of officer, affiliate and insider shares.
"Current business opportunities and prospective suitors are just too significant to ignore," stated Peter Meier, President of Hollund. "With such promise on the horizon, management must act responsibly. It is our duty to preemptively seek to prepare our market to be as attractive as possible. We believe that in making the proper arrangements to conscientiously reduce the issued and outstanding will be one of the greatest benefits we can offer our loyal shareholder base."
Hollund is in the process of finalizing a number of major initiatives that should be positively impacted by the proposed dilution reform program. These are initiatives which will likely increase the scope of the company's global reach and revenue potential quite significantly. Reaching an agreement to solidify Hollund's exclusive rights to market and operate the patented underwater timber harvesting robotic system lays the foundation for the company to strategically align itself with one of the most prominent woods product and distribution sources in the country. Anticipation of that combination has engendered a bustling of noteworthy 'C' Level executives seeking top management positions and board seats at the resource concessions company.
Management has not yet released full plan details, but sources close to the situation indicate that the official schedule is set to start in September 2012. Mr. Meier indicated that the initial stock retirement/reduction plan will begin with a significant number of common shares shaved off the Issued and Outstanding. "We'd like to demonstrate the seriousness of this initiative by initially retiring at least 1.5 Billion common shares within the next 45 days," continued Meier.
People close to the company indicate that the dilution reform program (common stock retirement plan) will be managed over a 3 to 5 month period. The majority of the stock retired will be a result of officers, affiliates and insiders agreeing to restructure their long-term interest. Some shareholders may opt to make new investment decisions; allowing Hollund to possibly reduce the 'Stock Float' by several hundred million shares as well.
Mr. Meier concluded, "We believe the truest value of Hollund has yet to materialize for investors. However, once it is truly understood that we are the epitome of good, viable and feasible "Green" solutions, then, the marketplace will quickly come to recognize that our dilution reform effort – a plan to remove 3.5 Billion common shares [at least] out of the market – should ultimately strengthen and validate our credibility and growth potential while building shareholder confidence and value."
Additional details will be discussed during the shareholder conference call.
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (Pink Sheets: HIMR) seeks to align the interests of businesses, communities, utilities and governments by offering an integrated business model for underwater forest management. Hollund's model – including resource and needs assessment, permitting, environmental and project planning, logging, milling, product branding and sales adds value for our shareholders, our partners and reservoir based communities.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "estimated," "believe," "optimistic," "expect," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in forward-looking statements. Such risks and uncertainties include, but are not limited to, unfavorable market conditions, increased competition, limited working capital, and failure to implement business strategies, actions by regulatory agencies, and other risks.
For investor relations,
Hollund Industrial Marine, Inc.
ir@hollundindustrial.com
SOURCE: Hollund Industrial Marine, Inc.
CONTACT: info@hollundindustrial.com
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