Charles & Colvard Announces Stock Dividend.MORRISVILLE, N.C. -- Charles & Colvard, Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CTHR) today announced that its Board of Directors has declared a 25% stock dividend to be distributed on January 30, 2006 to shareholders of record on January 13, 2006. The stock dividend will provide shareholders as of the record date one share for every 4 shares owned and cash in lieu Cash In Lieu (CIL) In a typical exchange offer, "old" shares of the target company are exchanged for "new shares". of fractional shares. Bob Thomas For the Irish footballer, see . Bob Thomas (born March 1, 1965 in Appalachia, Virginia) is a radio personality, actor, and writer. He was one of the top radio announcers in Knoxville, Tennessee for 25 years. , President and Chief Executive Officer, said, "We believe that the stock dividend is an excellent method of sharing the company's success with its owners, and is a clear indication of the optimism for our Company's future that is shared by our Board of Directors and Management team. We will regularly review and consider the best policies and practices for the company, including its dividend policy. The payment of future dividends will be dependant on Adj. 1. dependant on - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, contingent upon, dependant upon, dependent on, dependent upon, depending on, contingent the facts and circumstance at the time of that review." Charles & Colvard, based in the Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. area of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , is the sole source of moissanite, a created jewel used in fine jewelry. Moissanite is near colorless col·or·less adj. 1. Lacking color. 2. Weak in color; pallid. 3. Lacking animation, variety, or distinction; dull. See Synonyms at dull. , with more fire, brilliance and luster than a fine diamond, but retails for only a fraction of the cost. For more information, please access www.moissanite.com. This press release may contain forward-looking statements. Such forward-looking statements are subject to a number of material risks, uncertainties and contingencies that could cause actual results to differ materially from those set forth in the forward-looking statements. Those risks and uncertainties include but are not limited to the Company's ability to manage growth effectively, dependence on Cree Inc. as the current supplier of the substantial majority of the raw material and risks inherent in developing a material second source of supply through Norstel AB; the cost of developing distribution channels, dependence on a limited number of distributors such as K&G Creations, Reeves Park and Stuller Settings, Inc., our early stage of development, dependence on continued growth and consumer acceptance of the Company's products, and other risks and uncertainties set forth in the Company's 10-K for the year ended December 31, 2004 and other filings with the Securities and Exchange Commission. |
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