Continental declares stock dividend.CALHOUN Cal·houn , John Caldwell 1782-1850. Vice President of the United States (1825-1832) under John Quincy Adams and Andrew Jackson. In his political philosophy he maintained that the states had the right to nullify federal legislation that they deemed , Ga.--(BUSINESS WIRE)--June 24, 1997--The board of directors of Continental American Transportation Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:COAW) Tuesday announced it has approved a stock dividend in its holdings of Bio-Dyne Corp. (OTC BB:BODY) to its shareholders of record on a one for one basis. The shares of Bio-Dyne have been segregated for future distribution to its shareholders of record as of July 7, 1997. Shareholders of record will receive the equivalent of one share of Bio-Dyne for each share of Continental owned. A distribution date has not been set at this time but is expected during the next few months. Bio-Dyne Corp., located in Atlanta manufactures fitness gym equipment under the trademark names of Bio-Dyne and Dyna-Pak. Continental American had provided an operating credit facility to the company. A portion of the line of credit was converted to an equity position in the company's common stock in November of 1996. Continental American Transportation Inc. is a trucking and logistics management Logistics Management is that part of Supply Chain Management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet company with operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. engaged in the transportation of food, beverages and textiles. Its transportation operations include Carpet Transport Inc., Chase Brokerage Inc., Blue Mack Inc., and is based in Calhoun. It also owns controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Bio-Dyne Corp. Inc., a supplier of exercise and weight lifting weight lifting, international sport, also a training technique for athletes in other sports. From the earliest times men have lifted weights as a test of strength. equipment based in Atlanta. This press release contains certain forward looking information that is subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Without limitation these risks and uncertainties include economic recessions or downturns in customer's business cycles, rapid fluctuations in fuel pricing or availability, increase interest rates, and the availability of qualified drivers. Readers are urged to carefully review and consider the various disclosures made by the company in the press release and the company's periodic reports on its forms 10K and 10Q. CONTACT: Continental American Transportation Inc. Brian Henninger Brian Hatfield Henninger (born October 19, 1962) is an American professional golfer, currently playing on the Nationwide Tour. He has won two tournaments in his PGA Tour career. Henninger was born in Sacramento, California and graduated from Sheldon High School. , Chief Financial Officer 706/624-9600 |
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