Enviro-Serv, Inc. (OTC Pink: EVSV) (PINKSHEETS: EVSV), a growing company in the commercial and residential property maintenance industry, announces today that it has registered with FINRA the first of a series of proposed stock dividend distributions to its shareholders.
Chris Trina, CEO and Chairman of the Board states this to investors and shareholders, "I am extremely proud to announce that our Board of Directors has voted unanimously to offer our current and future class "A" stock holders a 20% stock dividend for shareholders of record as of the close of market activity on August 22nd 2014." Trina went on to explain, "The BOD felt this dividend is overdue and we are excited to offer this distribution to our shareholders. It should be noted that the executive team and our BOD will not participate in this 20% distribution whatsoever nor will Preferred "A" or "B" class holders. I want to repeat and be crystal clear to the public market place that our management team, executive's and BOD will not receive this or future distributions. We strongly believe that a stock dividend of this amount will accomplish some very necessary things in our underlying stock; 1. Create a much less volatile and more stable trading market. 2. Reward current and future shareholders for their support and confidence in our business plan and execution. 3. Create a more long-term holding pattern in our stock whereby future distributions will add further benefit to those willing to hold vs. trade our stock on a daily/ weekly basis. Furthermore if we feel the stock dividend offering is successful we are prepared to offer further stock dividend distributions over the short-term that could equal up to a total of 50% distribution or more to each and every class "A" common shareholder."
Trina goes on explaining details of the dividend offering, "The 20% dividend will be distributed via DTC for street name holders and our stock clearing agency, Madison Stock Transfer for those holding physical certificates at the record date time. It will be distributed as Preferred "C" shares with a lock-up period of one year required by the SEC. The Preferred "C" shares are convertible into 100 shares of class "A" common after the one year period elapses. There will be small fees associated to each shareholder upon distribution and conversion payable to the Stock clearing agency. The record date associated with this offering is August 22nd, 2014 at market close. To clarify this means you must be a record holder on this date at the close of market trading to participate in the dividend distribution. EVSV will trade ex-dividend on Monday August 25th."
CEO Trina ended by a statement and an example to shareholders, "I realize most shareholders will understand this dividend in full but want to give an example of the breakdown to remove any confusion. If an EVSV shareholder holds 100,000 EVSV at record date they are entitled to a stock dividend of 20,000 shares. Divide the 20,000 share dividend by 100 (the conversion ratio) which equals 200 shares of Preferred "C" class shares which is the amount that will be distributed out. I am so excited about this stock dividend as it's an honourable way to show our shareholders how much we appreciate their unwavering support. I vow to continue to work diligently in increasing shareholder value and look forward to more exciting news announcements in the very short term."
Enviro Serv, Inc. (OTC Pink: EVSV) (PINKSHEETS: EVSV) is a Tampa based corporation specializing in providing property maintenance services in geographically concentrated warm climate states. Through an aggressive acquisition strategy, the Company is building a portfolio of highly profitable enterprises that offer year round services such as pest control management, lawn and landscaping care, pool maintenance, air conditioning/refrigeration installation and repairs and a host of additional onsite maintenance offerings. Please visit our websites at www.enviro-serv.com and www.xterminateinc.com to learn more.
Forward-Looking Statements - This press release contains "forward-looking statements" 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 and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely solely on such statements. The forward-looking statements in this release are made as of the date hereof and Enviro-Serv, Inc. undertakes no obligation to update such statements.
SOURCE: Enviro-Serv, Inc.