Titan to spin-off PCB business.RICHARDSON, TX -- Titan Global Holdings Inc. stated that the company's board of directors has authorized the spin-off of Titan's PCB PCB: see polychlorinated biphenyl. PCB in full polychlorinated biphenyl Any of a class of highly stable organic compounds prepared by the reaction of chlorine with biphenyl, a two-ring compound. manufacturing business to its shareholders. The spin-off will reportedly allow the company to accelerate strategic transaction flow at all divisions, which should significantly build overall shareholder value. 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. management, Titan will spin-off its PCB division and retain its communications division and the remainder of its homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States and electronics division. Titan's communication division has grown to $89 million in revenue in fiscal 12006 and $24.6 million in revenue in its first quarter of fiscal 2007. The spin-off will be accomplished through the pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. dividend of 100% of Titan PCB, a wholly-owned subsidiary of Titan, to all shareholders of record on the record date set by Titan. The company will make appropriate filings with the Securities and Exchange Commission and expects the spin-off to be completed during the company's 2007 fiscal year. "Titan's team has worked aggressively for nearly two years to improve Titan's operations and increase shareholder value," said David Marks David Mark is the President of the Senate of Nigeria. He is a member of the People's Democratic Party (PDP) • • [ , chairman of Titan Global Holdings. Through a combination of organic growth and strategic acquisitions, we have made great progress. This strategic plan will enable each company to accelerate their individual plans for organic and strategic growth." |
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