PacWest Equities, Inc. Announces Effectiveness of Forward Split/Dividend of Its Common Stock
LAS VEGAS, NV--(Marketwire - Nov 2, 2012) - PacWest Equities, Inc. (PINKSHEETS: PWEI) (the "Company") is pleased to provide further details pertaining to the recently announced 3-for-1 dividend (a/k/a forward split) to shareholders of its common stock.
The Financial Industry Regulatory Authority, Inc. ("FINRA") has approved this action effective the opening of trading November 5, 2012. The stock will trade under the temporary symbol "PWEID" for a period of 20 business days after which it will revert to the symbol "PWEI".
Although the Company previously set the record date for the dividend as at October 18, 2012, the payment date as declared by FINRA has been for the close of business today, November 2, 2012. All shareholders owning shares at the close of business today, November 2, 2012, will be eligible to receive the dividend.
As the dividend shares are payable upon surrender, it is anticipated that registered brokerage firms will have the dividend transaction processed automatically in customer accounts shortly after FINRA declares the dividend effective. Shareholders holding physical certificates representing their shares are NOT required to submit their certificates for exchange to receive full credit for dividend shares. Physical certificate holders may contact the Company's transfer agent, First American Stock Transfer Inc., to facilitate the exchange of their old certificates for post-dividend shares should they wish to do so.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities.
Safe Harbor
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the Company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the Company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
