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Onyx Service & Solutions Inc. (OTCQB: ONYX) today announced that on December 15, 2011 its Board of Directors declared a 3-for-1 split of its common stock. The split will be effectuated in the form of a stock dividend to shareholders of record on December 30, 2011. Subject to FINRA approval, the company’s transfer agent will process the dividend with an effective date of January 4, 2012. Shareholders will receive two additional shares for each share of common stock held on the record date.
As of today, there are 22,309,000 shares of the company's common stock issued and outstanding. Immediately following the distribution of the stock dividend, there will be 66,927,000 shares of the company's common stock issued and outstanding.
As there will be mandatory exchange of certificates, shareholders are requested not to send their certificates to the company or its transfer agent for exchange. Those shareholders holding physical certificates will receive a new certificate via registered mail to the shareholder’s address of record representing the dividend shares. Shareholders who hold shares in brokerage and investment accounts will see the dividend shares automatically credited to their accounts shortly after the effective date.
"The Board's action reaffirms our belief in the long-term future for ONYX," stated Malcolm G Burleson, Chairman and CEO. "Furthermore, we believe the post-dividend stock price will help create additional liquidity for our shareholders."
About Onyx Service & Solutions, Inc. (OTCQB: ONYX)
Onyx Service & Solutions, Inc. is a for-profit corporation that focuses on brilliant alternative energy solutions including medium to large-scale solar construction projects, cutting edge solar technology acquisition and development, new to market solar product development, advances in solar product manufacturing, worldwide solar product sales and creative financing expertise of alternative energy related projects.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.