IRVINE, Calif., Dec. 5, 2014 /PRNewswire/-- EP Global
Communications, Inc. (OTC-PINK: EPGL) and Pricewaterhouse
Coopers Caymans Ltd. (PwC) have entered an Agreement to mutually
reduce their outstanding common share count by retiring a
significant number of shares managed by PwC and matching shares
held by Michael Hayes, Company
President. The plan will be executed on January 30, 2015. This action involves no
stock split of any kind.
Shareholders of record prior to January
30, 2015, will realize a percentage increase in their equity
of EPGL as a result of the retirement of the shares managed by PwC
and held by Mr. Hayes. The total number of shares to be
retired will be determined in January via negotiation by the
parties and the Company will reduce the authorized shares
accordingly.
"This is something I have wanted to accomplish for our
shareholders for some time now," says Mr. Hayes. "The
shareholders made a sacrifice in 2012 to help us restructure the
Company and that has been very successful for those shareholders,
myself and PwC. Now we will return the favor by beginning to
make EPGL shares more scarce. This action along with the
development of our technologies by major corporations, will
strengthen the emergence of EPGL as a leader in advanced MEMS
technology research and development. We are very excited
about the future for the valuable new art and intellectual
properties that we have invented to date."
A Company Conference Call will be held at 12 Noon EST on Friday,
December 5, 2014, to discuss this development as well as a
general update to shareholders.
The toll free Dial-In number will be 605-475-4000. Participant
Access Code is 475116#
About EP Global Communications, Inc.
EP Global Communications, Inc. is an advanced technology
research and development company for both medical devices and
consumer electronics devices specializing in microelectronic
mechanical systems (MEMS).
Safe Harbor Statement
Certain matters discussed in this press release are
"forward-looking statements" intended to qualify for the safe
harbors from liability established by the Private Securities
Litigation Reform Act of 1995. In particular, the Company's
statements regarding trends in the marketplace and potential future
results are examples of such forward-looking statements. The
forward-looking statements include risks and uncertainties,
including, but not limited to, the timing of projects due to the
variability in size, scope and duration of projects, estimates made
by management with respect to the Company's critical accounting
policies, regulatory delays, clinical study results which lead to
reductions or cancellations of projects, and other factors,
including general economic conditions and regulatory developments,
not within the Company's control. The factors discussed herein and
expressed from time to time in the Company's filings with the
Securities and Exchange Commission could cause actual results and
developments to be materially different from those expressed in or
implied by such statements. The forward-looking statements are made
only as of the date of this press release and the Company
undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
RELATED LINKS
http://www.epglmed.com
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SOURCE EP Global Communications, Inc.