Accredited Business Consolidators Corp. to Divest Richwood Eco Ventures Inc. and to Issue Dividend
October 20 2009 - 12:01AM
Marketwired
Accredited Business Consolidators Corp., trading as Italian Oven,
Inc. (PINKSHEETS: IOVE), today issued a resolution to divest the
Company's Richwood Eco Ventures Inc. subsidiary.
IOVE will begin the paperwork to obtain a CUSIP for the
subsidiary and will subsequently issue a one for one dividend to
present shareholders of IOVE. That is, for every share of IOVE, one
share of Richwood Eco Ventures would be issued to the IOVE
shareholder. The ex date will be set in the next three to six
weeks. Richwood Eco Ventures maintains a share structure of
999,999,999 authorized shares.
After the issuance of the dividend and the close of the fiscal
year, the Company will take the appropriate action necessary to
have the financial statements of Richwood Eco Ventures Inc. audited
and to register the securities in question with the Securities and
Exchange Commission. Once registered, the Company will attempt to
secure a market maker for the registered securities so that a
trading symbol may be obtained from FINRA.
This divesture is mutually exclusive from the planned issuance
of Accredited Consolidators Europe PLC shares to IOVE common
shareholders at the rate of 1 ACE PLC share for every 250 IOVE
shares. (There will only be 5,000,000 shares of ACE PLC.)
ABOUT ACCREDITED BUSINESS CONSOLIDATORS CORP.
Accredited Business Consolidators Corp., f/k/a the Italian Oven,
is a diversified holding corporation. The total number of common
shares outstanding is 436,399,500. 328,018,200 shares are in the
public float, 70,546,600 shares are restricted in certificate form,
and 37,834,700 shares are unrestricted but in certificate form.
There will be no increase in shares until at least April 2010.
This is not an offer to sell securities. Statements made are
forward-looking subject to risks and uncertainties. Statements
included are made on the date hereof. The company undertakes no
obligation to update such statements to reflect subsequent events
or circumstances. Results could differ materially from anticipated
results. Pay careful attention to all announcements and
filings.
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Contact: Investor Relations Accredited Business Consolidators
Corp. ir@accreditedbiz.com 267-864-7737 Fax: 267-371-5168 Twitter:
accreditedbiz