posted
i don't know but i like this stock looks good for the long run i like there approach to the commercial end of the business. i am in light rigth now but will keep an eye to add.
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Union Equity Approves 600% Dividend for Shareholders
April 18, 2005 09:08:01 (ET)
PALM BEACH, Fla., Apr 18, 2005 (BUSINESS WIRE) -- Union Equity Inc. (Pink Sheets:UNQT) has approved a 600% dividend in the form of six-for-one forward split of its common stock issued and outstanding as of 4/27/05 (the record date). Odd lots shall be rounded up.
Shareholders of record on 4/27/05 will receive six shares for every one share of common stock owned on that date.
"We want to reward our shareholders for their continued loyalty," said Union Equity CEO Michael Anthony. "Their steadfast belief in our company has allowed us to expand rapidly and diversify into peripheral markets."
In accordance with SEC Rule 10b-17, NASDAQ has been notified 10 calendar days in advance of the record date.
-------------------- It is always darkest before it goes completely BLACK!!!
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Ok, A couple things here. 1) Will this take place automatically on that date of the forward split, will my shares increase without me having to do anything? 2) I know there are different grades of common stock. Are daytraders, like us, included in this?
-------------------- wide open until you see god, then brake!
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Union Equity Responds to Shareholder Inquiries
April 18, 2005 14:11:01 (ET)
PALM BEACH, Fla., Apr 18, 2005 (BUSINESS WIRE) -- As released this morning, Union Equity Inc. (Pink Sheets:UNQT) has approved a 600% dividend in the form of six-for-one forward split. Shareholders of record on 4/27/05 will receive six shares for every one share of common stock owned on that date and odd lots shall be rounded up.
"We've received a lot of inquiries about the company recently and want to make sure shareholders understand some important facts," said CEO Michael Anthony.
The six-for-one forward split does not apply to the 6,049,244,000 restricted shares closely held by management. Currently there are approximately 117,000,000 shares in the float.
In accordance with SEC Rule 10b-17, NASDAQ has been notified 10 calendar days in advance of the record date. The mail date for the additional shares is May 16, 2005.
-------------------- It is always darkest before it goes completely BLACK!!!
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posted
This stock looks like its heading for trouble....I would get out now IMHO
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yea.. your shares will authomatically increase on record date .. may 16.
quote:Originally posted by glenngsxr: Ok, A couple things here. 1) Will this take place automatically on that date of the forward split, will my shares increase without me having to do anything? 2) I know there are different grades of common stock. Are daytraders, like us, included in this?
posted
RSI was at 62.5 today meaning this pps is being overbought and likely to drop in price when it reaches 70. I am all for a forward stock split...I just see this going lower with an accumlation of more shares. Eventually, however it will get back to the price it is today once it does its tailspin...GL if you are in this one
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By: allinone26 19 Apr 2005, 11:45 AM EDT Msg. 935 of 937 Jump to msg. # I contacted investor relations and the gentleman told me that the company is about to make some further acquition announcements along with completion of an already reported purchase of Eden. Further when I mentioned about 6X the share amount he just snickered and said "if you are a shareholder of this company, you will be very pleased with the results of some very hard negotiations. We truly intended the 600X dividend as a reward not a dilution to the company stock"! Well that is what you have from a simple phone call!!!
-------------------- It is always darkest before it goes completely BLACK!!!
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ok, let's say I own the shares on the report date of 4/27/05 and I am eligible for the 6:1 forward split that I should receive on 5/16/05. After the report date am I allowed to trade those shares or do I have to hold them until I actually receive them. How does this situation work? Forgive me, never dealt with a forward split yet. I'm only 20 years old and new to the game. Glenn
-------------------- wide open until you see god, then brake!
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Glen you have to get the shares to the broker by settlement date so check with them....may have to have them in your account before you sell depending on Broker! Good Luck, Trying to get my 20 year old to learn this but not too interested yet! Commodities or Forex is easier...lol
-------------------- It is always darkest before it goes completely BLACK!!!
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Union Equity Completes Acquisition of Eden Development Group, Responds to Shareholder Inquiries Regarding Forward Split 4/19/2005 2:09:01 PM
PALM BEACH, Fla., Apr 19, 2005 (BUSINESS WIRE) -- Union Equity Inc. (Pink Sheets:UNQT) has completed its acquisition of Eden Development Group, a residential property developer. This acquisition will provide Union Equity with turn-key access to the residential housing market in South Florida.
James T. Wadsworth Jr. will stay on as Eden Development Group's President and will spearhead the company's construction and renovation projects. Wadsworth has been a licensed general contractor in Florida for nearly two decades.
"Jay has longstanding relationships in place with quality subcontractors and he's got a discerning eye for opportunity," said Union Equity CEO Michael Anthony. "We will release news immediately as soon as we move on our initial projects together."
The company continues to seek out other acquisitions and/or mergers in the areas of land development, residential mortgage financing and construction/general contracting. Union Equity's objective is to become a one-stop source for the residential housing and mortgage finance consumer.
In addition, the company has approved a 600% dividend in the form of six-for-one forward split of its common stock issued and outstanding as of 4/27/05 (the record date). Odd lots shall be rounded up. Shareholders of record on 4/27/05 will receive six shares for every one share of common stock owned on that date. The mail date for the additional shares is May 16, 2005.
"We received numerous inquiries yesterday regarding the split so we want to make sure everyone understands how it works," Anthony said. "For every one share of stock owned on 4/27/05 the shareholder will receive six additional shares."
The six-for-one forward split does not apply to the 6,049,244,000 restricted shares closely held by management. Currently there are approximately 117,000,000 shares in the float.
About Union Equity
Union Equity is a national real estate development and holding company, specializing in the fields of Residential Property Development, Mortgage Finance and Construction of New Residential Properties. The company operates independently and through its wholly-owned subsidiary Eden Development Group and plans to grow aggressively over the next two to three years through acquisitions, mergers and internal growth.
About the Industry
Florida ranked fifth nationally in housing appreciation in 2004.
Further information on the company can be found on their website; http://www.UNQT.com
SOURCE: Union Equity, Inc. Union Equity Inc., Palm Beach Investor Relations, 800-916-3457 Fax: 800-916-3451 contact@union-equity.com
posted
I told you this would go lower...just a formality of a stock split announcement. I still think this is a dilution even though it was stated in a PR that it wasn't. Not trying to bad mouth this stock...I will probably buy some of this stock myself. I've always said "Free shares are good shares."
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