PayChest Inc. Declares Spin-Off Dividend; Announces Record Date and Distribution Date
August 07 2008 - 4:51PM
Marketwired
PayChest Inc. (Arizona) (PINKSHEETS: PYCT) announced that its board
of directors today declared a dividend distribution of all of the
issued and outstanding shares of common stock of its wholly-owned
subsidiary, Paychest Inc. (Oregon). Each holder of record of
PayChest Inc. (Arizona) common stock at the close of business on
Monday, August 18, 2008 will receive 1 share of Paychest Inc.
(Oregon) common stock for 200 shares of PayChest Inc. (Arizona)
common stock held at such time. The Paychest Inc. (Oregon) share
dividend will be distributed on the ex-dividend date to be set by
NASDAQ.
Holders of PayChest Inc. (Arizona) common stock are not required
to take any action to receive the Paychest Inc. (Oregon) common
stock on the distribution date.
Due to the nature of the dividend distribution, the ex-dividend
date will be up to 3 days following the dividend distribution date.
As a result, holders of PayChest Inc. (Arizona) common stock who
sell their shares through the dividend distribution date also will
be selling their right to receive the dividend distribution.
Investors are encouraged to consult with their financial advisors
regarding the specific implications of the deferral of the
ex-dividend date.
Information about PayChest Inc. (Arizona) obtained from sources
other than the company may be out-of-date or incorrect. Please rely
only on company press releases and other information provided by
the company.
About PayChest
PayChest, a global marketing company and developer of technology
solutions and its strategic partner companies, market and
distribute select products and services worldwide, which provide an
increased public awareness to conserve and preserve the world's
limited resources. The affiliated companies further develop
integrated commerce processing solutions. These include turnkey
point of sale solutions, gift and loyalty portal systems, ACH
electronic systems, online and mobile payment platforms and rewards
based platforms to integrate into an existing business system.
About Paychest (Oregon)
Paychest and its strategic partner companies are developing
integrated commerce processing solutions utilizing cutting edge
technologies to deliver in store, online and mobile solutions
globally. These include turnkey point of sale solutions, gift and
loyalty portal systems, ACH electronic systems, online and mobile
payment platforms and rewards-based platforms to integrate into an
existing business system.
Safe Harbor Statement
The foregoing press release contains forward-looking statements.
For this purpose any statements contained in this press release
that are not statements of historical fact may be deemed to be
forward-looking statements. Without limiting the foregoing, words
such as "may," "will," "expect," "believe," "anticipate,"
"estimate," "continue," "can" or comparable terminology are
intended to identify forward-looking statements. These statements
by their nature involve substantial risks and uncertainties and
actual results may differ materially depending on a variety of
factors.
Contact: PayChest Inc. Investor Relations 1-877-525-5170
ir@paychest.com
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