American Home Alliance Industries, Ltd. Announces Two for One Forward Stock Split and Change of Name.BAKERSFIELD Bakersfield, city (1990 pop. 174,820), seat of Kern co., S central Calif., at the southern end of the San Joaquin valley; inc. 1898. It is an oil, mining, and agricultural center and one of the fastest-growing U.S. cities. , Calif.--(BUSINESS WIRE)--American Home Alliance Industries, Ltd., (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). , Electronic Bulletin Board), a Bakersfield, Calif. holding company founded in 1974, announced today that the Company's Board of Directors has approved a resolution implementing the two for one forward stock split approved earlier by the Company's Shareholders. The Company has announced that the record date for the two for one forward stock split is Wednesday, Sept. 18, 1996. By the terms of forward split, all of the Company's outstanding common stock ("Old Common Stock") will be automatically converted into New Common Stock ("New Common Stock") in a ratio of two shares of New Common Stock for each share of Old Common Stock held as of Sept. 18, 1996. All fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. resulting from the forward split will be rounded up to the next whole share. The Board of Directors also announced that the Company had filed an amendment to the Company's Articles of Incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. changing the Company's name to Alliance Industries. The two for one forward split of the Company's Common Stock and the change in the Company's name to Alliance Industries was previously approved on Aug. 31, 1996 at the Annual Meeting of the Company's shareholders. For a current profile on the Company, call 1-805-637-1000. CONTACT: American Home For the American mortgage lender, see . The American Home is a center of intercultural exchange located in Vladimir, Russia. The home is designed to model a typical American suburban home and its main focus is the ESL school that provides lessons for Russian students. Alliance Industries, Ltd. Donald A. Baillargeon, 805/637-1000 |
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