A.C.L.N. Limited Announces a 25% Stock Dividend and Preliminary Second Quarter Revenues and Earnings.Business Editors LIMASSOL, Cyprus--(BUSINESS WIRE)--Aug. 14, 2000 A.C.L.N. Limited (Nasdaq:ACLNF), today announced that the board of directors passed a resolution providing for a 25% stock dividend to be issued on Sept. 18, 2000, to stockholders of record as of the close of business on Sept. 1, 2000. "We have been encouraged by the increased trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. since our last stock dividend and hope that both our geographic and business segment expansions, which have fueled substantial growth in revenues and earnings, will gain the attention of Wall Street analysts," commented Aldo Labiad, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of A.C.L.N. Limited. A.C.L.N. Limited expects to report revenues and earnings next week. The company's accountants are finalizing the second quarter review. The company estimates that the unaudited financial statements will disclose revenues of approximately $39 million, as compared with $24,461,700 during the second quarter of 1999, and net income of approximately $9,700,000, as compared with $5,430,426 during the second quarter of 1999. "We expect to report both record revenue and net income reflecting continued growth in our business segments," commented Labiad. A.C.L.N. Limited (www.aclnltd.com) is a marine logistics, shipping, and trading company that arranges for the resale and shipment of personal automobiles and light trucks from four ports in Northern Europe and three ports in the United States This is a list of ports of the United States, ranked by tonnage. See the articles on individual ports for more information, including geography, ownership, and link to official web site. Cargo volume at U.S. ports, 2004, short tons. to purchasers who live in West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. , North Africa and the Middle East. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are based on the current expectations of management and are subject to a number of risk factors and uncertainties that could cause actual results for performance of the company to differ materially from those described herein. |
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