Apple Homes Commences Subsidiary Spin-Off; Southern States Lenders Inc. Becomes Separate Company.AUGUSTA, Ga.--(BUSINESS WIRE)--April 16, 1999-- Apple Homes Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:APHC APHC All Parties Hurriyat Conference (Kashmir) ApHC Appaloosa Horse Club (Moscow, Idaho) APHC Association des Pharmaciens du Canada (Canadian Pharmacists Association) ) a leading retailer in manufactured housing, today announced it has commenced the distribution of the stock of its subsidiary, Southern States Lenders, Inc. as a spin-off. Apple Homes Corp. shareholders of record date March 1, 1999 will receive one share of Southern States Lenders for every ten shares they hold of Apple Homes. Mailing of the shares in the previously announced spin-off is expected to be completed shortly, said E. Samuel Evans, 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 Apple Homes. Southern States Lenders, Inc. has reimbursed Apple Homes for all funds advanced by the company to its subsidiary, Evans noted. Southern States Lenders, Inc. is now a completely separate company with approximately 250 shareholders including holders of street-name stock, many of whom are in the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of area. Web sites are presently being developed for both Apple and Southern States. Apple Homes represents eight manufacturers and is the largest retailer in the United States for General Housing Corporation of Waycross, Georgia. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement Except for the historical information contained herein, certain of the matters discussed in this press release are "forward-looking statements" as 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, which involve certain risks and uncertainties, including but not limited to, changes in general economic conditions, material prices, labor costs, interest rates, consumer confidence, competition, environmental factors, and governmental regulations affecting the company's operations. |
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