Printer Friendly

AMERICARE HEALTH GROUP, INC. ANNOUNCES REVERSE STOCK SPLIT

 EAST ISLIP, N.Y., Aug. 6 /PRNewswire/ -- Americare Health Group, Inc., a publicly held Delaware corporation engaged in the provision of services, facilities and equipment to the medical and chiropractic professions ("Americare"), announces that its stockholders have approved a corporate recapitalization reverse splitting Americare's common stock on a one share for five currently held basis, increasing the par value of its common stock to $.001 per share and adjusting its authorized common stock to 20,000,000 shares, $.001 par value. The foregoing recapitalization will, it is expected, be effected on Monday, Aug. 9, 1993, when the required amendments to Americare's certificate of incorporation are filed with the Delaware Department of State.
 The result of the recapitalization will be that the company's stockholders will have the quantity of their stock reduced to 20 percent of what it was in number of shares held, but the par value of their stock will be five times greater per share. No change will result in the percentage of shares held.
 The recapitalization will be supplemented by the filing of a Form 10 with the Securities and Exchange Commission in the near future, making the company a fully reporting entity under the Securities Exchange Act of 1934, as amended. The company's management is attempting to complete an acquisition and diversification program during 1993, that will provide it with the asset base required for trading of its securities on the National Association of Securities Dealers, Inc.'s Automated Quotation System ("NASDAQ").
 -0- 8/6/93
 /CONTACT: Paul F. Caviglia Jr. of Spinecare, Inc., 516-277-5231, for Americare Health Group, Inc./


CO: Americare Health Group, Inc. ST: New York IN: HEA SU:

LD-OS -- NY002 -- 0168 08/06/93 08:00 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 6, 1993
Words:284
Previous Article:SUPERIOR SURGICAL DECLARES QUARTERLY DIVIDEND
Next Article:SELF MAGAZINE JOINS REEBOK IN OUTDOOR FITNESS CAMPAIGN; SELF'S NATIONAL GUIDE FOR OUTDOOR ENTHUSIASTS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters