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Press Release Source: Vision Real Estate Management and Development
Vision Real Estate Management and Development Announces Acquisition and Spin Off Wednesday January 14, 8:31 am ET
ALBANY, N.Y.--(BUSINESS WIRE)--Jan. 14, 2004--Vision Real Estate Management and Development, Inc. (Pink Sheets: VRMD - News), today announced that it has entered into a letter of intent to acquire Meridian Construction Company, Ltd. and Meridian Piling, Inc., solely for stock in Vision Real Estate Management and Development. Upon the closing of this acquisition, Vision Real Estate Management and Development company will spin out its present assets into a newly formed subsidiary. With revenues over $5,000,000 US in 2003 and net assets of approximately $3,500,000 US, Meridian Construction Company, Ltd. and Meridian Piling, Inc. are two of the largest construction and piling companies in the British Virgin Islands. As of today Meridian Construction Company, Ltd. and Meridian Piling, Inc. have contracts exceeding $3,500,000 US. The two companies anticipate having contracts exceeding $10,000,000 US by the end of April 2004. Currently the Meridian companies are in the process of purchasing a 40% ownership interest in the development of new hotels and condominiums, with contracts worth over $15,000,000 US, bringing the company's revenues to over $27,000,000 US over the next two years.
All shareholders of record on the close of this acquisition will remain shareholders of Vision Real Estate Management and Development company, which becomes the much larger construction and piling company. Shareholders will also receive shares of the spin off of the real estate portion of Vision Real Estate Management and Development companies. More details of this deal will be announced shortly.
"This is an exciting step for all shareholders of Vision Real Estate Management and Development." Stated Daniel J. Duffy, Vice President of VRMD. "Not only are our shareholders receiving the 40% stock dividend dated January 14, but now they will receive an additional dividend share of the spin off."
"With a company of this size and the contracts about to close, shareholder value is rapidly increasing and justifies the 40% stock dividend." stated Donovan Rhoden, President and CEO of Vision Real Estate Management and Development. "Our shareholders are the ones who benefit from this step and we feel this move will allow us to bypass the OTC Bulletin board and go straight to the American Stock Exchange."
Upon the completion of the acquisition, the financial statements of Meridian Construction Company, Ltd. and Meridian Piling, Inc. will comply with the requirements for application for listing on the American Stock Exchange. The Company intends to apply for a listing on the American Stock Exchange as promptly as possible.
Forward-Looking Statements the private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond control of the company, actual results may differ materially from the expectations expressed in the forward-looking statements.
------------------------------------------------------------------------ -------- Contact: Vision Real Estate Management and Development Daniel J. Duffy, 518-862-1676 http:/www.vrmdcorp.com
------------------------------------------------------------------------ -------- Source: Vision Real Estate Management and Development Posts: 39 | Registered: Sep 2003
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Holy Cowmoly! Shareholders get 40% of stock dividend by end of today and All shareholders of record on the close of this acquisition will remain shareholders of Vision Real Estate Management and Development company, which becomes the much larger construction and piling company. Shareholders will also receive shares of the spin off of the real estate portion of Vision Real Estate Management and Development companies. More details of this deal will be announced shortly. Mr. Duffy, you're da man!
Posts: 6 | From: Alhambra, CA | Registered: Dec 2003
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Last day for shorts to cover or they'll pay additional 40% for the dividend. This baby is going to fly. 300 @ .11, what does it mean in MM language ?
MM Signals................................
a-Signals between MMs... 100 = I need shares 200 = I need shares badly but dont take it down to get em 300 = Take the price down to get shares.... 400 = Trade it sideways based on Supply and Demand 500 = Gap one way or the other, usually to the direction of the 500 trade. Sometimes - if in the middle - keep the price right where it is.
Posts: 6 | From: Alhambra, CA | Registered: Dec 2003
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Yes, you'll still get the dividend. All shares that bought during the two weeks, from Jan 2 to Jan 14 would carry a due bill, which transfer stock dividend from the seller.
Vision Real Estate Management and Development Clarifies 40% Stock Dividend Wednesday December 31, 11:15 am ET
ALBANY, N.Y.--(BUSINESS WIRE)--Dec. 31, 2003--Vision Real Estate Management and Development, Inc. (Pink Sheets: VRMD - News), previously announced the Board Of Directors unanimously approved a 40% stock dividend for its shareholders of record as of December 31, 2003 with a delivery date of January 14, 2004.
On January 2, 2004 the stock will trade with a "due bill" attached. The "due bill" represents the 2 dividend shares for every 5 shares owned. The stock will trade in this manner until and including January 14, 2004. Every transaction involving the stock during that timeframe will include the dividend rights.
"Given all the excitement that is building around our company and the pending dividend, we needed to clarify this mater, so all shareholders had a clear understanding of the dividend," stated Donovan Rhoden, President and CEO of Vision Real Estate Management and Development. "Our focus is on the shareholders and to build a solid company that grows every year."
"Our business plan is quickly coming together. Pieces are falling into place, we anticipate being able to further update shareholders on critical events in the near future." stated Mr. Daniel J. Duffy, Vice President of Vision Real Estate Management and Development. "Our future is very bright, and the future starts early in 2004. Next year is shaping up to be a banner year."
Forward-Looking Statements the private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond control of the company, actual results may differ materially from the expectations expressed in the forward-looking statements. Contact:
Vision Real Estate Management and Development Daniel J. Duffy, 518-862-1676 Fax: 518-862-9247 WWW.VRMDCORP.COM
Posts: 6 | From: Alhambra, CA | Registered: Dec 2003
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and the MACD looks like it will/could head on it's way back up to the 0 mark.
