GlobalOptions Group Announces Reverse Stock Split.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 -- GlobalOptions Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : GLOI GLOI Grand Lodge of Ireland (freemasons) ), a leading provider of domestic and international risk management services, today announced that the company will institute a reverse stock split of its outstanding common stock at a ratio of 1-for-8 shares for all shareholders of record as of the market opening on March 6, 2007. The company's common stock will continue to trade on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. on a split-adjusted basis when the market opens that day, under the current stock symbol GLOI. Under the terms of the split, for every eight shares of issued and outstanding common stock, a shareholder will receive one share of common stock. No fractional shares will be issued in connection with the reverse stock split; for any fractional ownership In business, fractional ownership is a percentage share of an expensive asset. Shares are sold to individual owners. A fractional owner enjoys priorities and privileges, such as reduced rates, priority access on holidays and income sharing. , the company will issue one whole share for any fractional interest. "As GlobalOptions approaches $100 million in revenue, we are taking this step to lay the foundation whereby a broader base of shareholders can benefit from our unmatched management team, unique portfolio of offerings, and vision to be the leading provider of risk assessment and mitigation services worldwide," said Dr. Harvey W. Schiller, 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. and Chairman of GlobalOptions Group. About GlobalOptions Group, Inc. GlobalOptions Group, with headquarters in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and offices in 16 cities, is a provider of high-end risk assessment and mitigation services to Fortune 1000 corporations, governmental organizations and high-profile individuals throughout the world. GlobalOptions Group's services currently include risk management and security, investigations and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. support, and crisis management. These engagements take GlobalOptions Group staff around the world and are typically highly-sensitive engagements where GlobalOptions Group is interacting with senior leaders in corporations and governments. Its overall mission is to identify, evaluate, assess, prevent and correct issues that may threaten people, organizations or strategic initiatives for corporations or governments. www.globaloptionsgroup.com Statements in this press release regarding the company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. The company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to 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 1994, and as such, speak only as of the date made. To the extent the content of this press release includes forward-looking statements, they involve various risks and uncertainties including the successful integration of the acquired businesses, projected financial information, and the continued successful implementation of the company's business strategy. Certain of these risks and uncertainties will be described in greater detail in GlobalOptions Group's filings with the Securities and Exchange Commission. GlobalOptions Group is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. |
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