This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Globalgroup Investment Holdings Announces FINRA Announcement Dates For Spin-Off And Name Change

Los Angeles, California, Aug. 29, 2013 (GLOBE NEWSWIRE) -- Los Angeles, California, August 29, 2013 - Globalgroup Investment Holdings, Inc. (OTC: GIHI) announced today the Company received confirmation yesterday from FINRA that all the necessary documentation had been received to announce the spin-off of Sovereign Oil and to change the name of the Company to Embarr Downs.

On August 29, 2013, FINRA will announce the following information regarding the Spin-Off:

  • Spin Off; 1 Restricted share of Sovereign Oil Inc for every 50 shares held. Fractions rounded up.
  • Record Date: 8/31/2013
  • Payment Date: 9/3/2013 
  • Daily List Announcement Date: 8/29/2013

 On September 6, 2013, FINRA will announce the following information regarding the name change and ticker symbol change:

  • New Name: Embarr Downs, Inc.
  • New Symbol: EMBR
  • Daily List Announcement Date: 9/6/2013
  • Market Effective Date:  9/9/2013

The Company has received a number of new questions regarding a reverse split of the stock.  The Company is currently focused on filing a Form 10 with the SEC.  As a result, the Company has decided not to do a reverse split of the stock at this time.  The Company's Board of Directors had previously decided to reevaluate this decision after the expected shareholder meeting in September; however, the Board has decided to do the reevaluation after the Form 10 is effective (which is expected to occur sometime in November 2013).  The current officers and directors have been in their positions for less than 2 weeks and need more time to properly evaluate the Company and would prefer such evaluation to occur after the reverse merger is completed.

About Embarr Downs

Embarr Downs is engaged in the buying, selling and racing of thoroughbreds.  The Company's focus is acquiring thoroughbreds that can race in the allowance and stakes level of thoroughbred racing; however, the Company initially is focusing on acquiring thoroughbreds in the claiming level of thoroughbred racing.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs