China Digital Communication Group Undergoes 10-for-1 Reverse Stock Split and Ticker Change to CMTP
July 13 2009 - 9:29AM
PR Newswire (US)
Reverse Stock Split and New Ticker Occurs Today, July 13, 2009 NEW
YORK and SHENZHEN, China, July 13 /PRNewswire-Asia-FirstCall/ --
China Digital Communication Group (OTC:CHID) (BULLETIN BOARD: CHID)
, a manufacturer of battery components in China, undergoes its
previously announced 10-for-1 reverse stock split today, Monday,
July 13, 2009. In connection with the stock split, China Digital
Communication Group's trading symbol as quoted on the OTC Bulletin
Board has been changed from (OTCBB: CHID) to (OTC Bulletin Board:
CMTP). The reverse stock split was previously announced in a press
release last Friday, July 10. Every ten shares of China Digital
Communication Group common stock will be automatically converted
into one share. In connection with the reverse split, the China
Digital Communication Group common stock will trade under the new
CUSIP No. 169381209. Fractional shares of stock will not be issued
as a result of the reverse split. Stockholders who would otherwise
receive a fractional share of China Digital Communication Group
common stock will be entitled to receive an equivalent amount of
cash in lieu of fractional shares, based on the average daily
closing price per share of the common stock on the OTC Bulletin
Board for the 10 consecutive trading days ending on July13, 2009.
About China Digital Communication Group China Digital Communication
Group, through its wholly owned subsidiary, Shenzhen E'Jenie
Science and Technology Co., Ltd. (E'Jenie), is one of China's
leading manufacturers and developers of advanced telecommunications
equipment. E'Jenie sells advanced high-quality lithium-ion battery
shell and cap products to all major lithium-ion battery cell
manufacturers in China. E'Jenie's products are used to power mobile
phones, MP3 players, laptops, digital cameras, PDAs, camera
recorders and other consumer electronic digital devices. China
Digital Communication Group is continuing its expansion across East
Asia, while seeking distribution partners and acquisitions in new
global markets, including the U.S. For more information, please
visit: http://www.chinadigitalcommunication.com/ Forward-looking
statement: Except for the historical information, the matters
discussed in this news release may contain forward-looking
statements, including, but not limited to, factors relating to
future sales. These forward-looking statements may involve a number
of risks and uncertainties. Actual results may differ materially
based on a number of factors, including, but not limited to,
uncertainties in product demand, risks related to doing business in
China, the impact of competitive products and pricing, changing
economic conditions around the world, release and sales of new
products and other risk factors detailed in the company's most
recent annual report and other filings with the Securities and
Exchange Commission. Contact: China Digital Communication Group Ken
Lin, 1-917-573-0302 or China America Financial Communications Group
Darren Minton, 1-212-823-0523 DATASOURCE: China Digital
Communication Group CONTACT: China Digital Communication Group, Ken
Lin, +1-917-573-0302, ; or China America Financial Communications
Group, Darren Minton, +1-212-823-0523, Web Site:
http://www.chinadigitalcommunication.com/
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