FutureLink Symbol Temporarily ``FLNKD''; 1 for 5 Reverse Split Effective Opening of Trading, June 1, 1999.CALGARY, Alberta--(BUSINESS WIRE)--June 1, 1999-- FutureLink has completed the steps to proceed with its 1 for 5 reverse stock split previously announced on May 14, 1999. The NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). has accepted the company's filings and has assigned FutureLink's common stock the temporary symbol of "FLNKD" (previously "FLNK FLNK Fully Associated Link ") (FLNKD\OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB) to denote the post-reverse split stock. FutureLink's common stock will trade on a post-reverse split basis (one new share representing five previous shares) at the opening of trading on June 1, 1999. In the company's previous press release of May 14, 1999, FutureLink announced that it intended to effect a reverse stock split to be effective June 1, 1999. With all necessary shareholder and director approvals, the company has notified all interested parties, including its Transfer Agent, General Securities Transfer Agency of Albuquerque, New Mexico “Albuquerque” redirects here. For other uses, see Albuquerque (disambiguation). Albuquerque (pronounced [ˈæl.bə.kɚ.kiː], Spanish: [al.βu. , the NASD and the Depository Trust Company Depository Trust Company (DTC) DTC is the world's largest central securities depository. It accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executes book-entry deliveries (valued at over $116 trillion (DTC DTC See: Depository Transfer Check DTC See: Depository Trust Company DTC See Depository Trust Company (DTC). ), the largest registered shareholder, which will instruct brokerages and market makers of this reverse split. With the completion of this 1 for 5 reverse stock split, FutureLink's revised share structure will have just over 30 million shares of common stock on a fully-diluted basis with a currently publicly traded float of approximately 4 million shares. FutureLink's outstanding share certificates will be converted by its Transfer Agent as they are traded. Any registered shareholder not currently intending to trade their shares and wishing to update their share certificate is encouraged to contact the company's Transfer Agent directly. Any shareholder holding FutureLink stock through a broker is encouraged to work through the broker to update their shares. Shareholders holding shares indivisible by Adj. 1. indivisible by - cannot be divided without leaving a remainder undividable math, mathematics, maths - a science (or group of related sciences) dealing with the logic of quantity and shape and arrangement five prior to the reverse split will receive cash compensation, at $1.365 per pre-reverse split share, for such shares. For example, if a shareholder held 1234 shares prior to the reverse split, that shareholder would receive 246 post-reverse split shares plus cash payment of $5.46 for the 4 pre-reverse split shares that cannot be divided by 5. However, as agreed between the company and the SEC, any shareholder holding less than one whole share following this reverse split will be entitled to obtain a revised share certificate for 1 complete share of common stock. Any questions regarding the reverse split can be directed to FutureLink's investor relations Investor relations The process by which the corporation communicates with its investors. representative, Troy Cleland, at (403)216-6001 or by e-mail at invrel@futurelink.net. About FutureLink Distribution Corp. FutureLink is a founder of the Application Services See ASP and Web services. Provider (ASP) industry. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Forrester Research Inc., the application outsourcing market is projected to reach $20 billion by 2001. FutureLink provides small and mid-sized businesses (10-1,000 employees) with off-site, Internet-based computing, allowing subscribers to off load hardware/software upgrade cycles, precisely control total cost of technology ownership and focus on their core businesses. FutureLink's expertise in application hosting on a monthly subscription basis, outsourcing and facility management, and business practices consulting enables the company to offer an all-inclusive, trouble-free service at a predictable price. FutureLink, "The Computer Utility Company," offers computer and information service as transparently and reliably as today's utilities deliver electricity, water and telephone services. For more information, contact FutureLink toll-free at (877) 216-6001; e-mail: sales@futurelink.net; or visit the FutureLink Web site at http://www.futurelink.net. Forward-looking statements and comments in this news release are made pursuant to 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. provisions of the Securities Exchange Act of 1934. Such statements relating to, among other things, the prospects for the Company to complete the transaction and enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These risks may further be discussed in periodic reports and registration statements to be filed by the Company from time to time with the Securities and Exchange Commission in the future. |
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