USA: Cuidao Holding Corp. Announces Distribution of Shares
Cuidao Holding Corporation (OTC Bulletin Board: CDAO) announced today that distribution shall take place October 26, 2000 pursuant to the forward split for shareholders of record on October 16, 2000. The Company's stock price will be adjusted on October 27, 2000.The shareholders who sell between October 16, 2000 (record date) and October 26, 2000 (distribution date), will be issued "due bills" requiring delivery of the split shares, thereby requiring the seller to forfeit their right to the split as a shareholder of record. This process ensures that sellers who sell in this window of time deliver the additional split shares and that buyers therefore receive the benefit of the forward split. Conversely, any potential shareholder who wishes to purchase Cuidao common stock after the record date but before the effective date shall be entitled to receiving split shares on October 27, 2000.Cuidao's management issued its announcement in response to apparent shareholder confusion as to the distribution of shares as reflected in the stock's lower trading volume.Robert K. Walker, Managing Director of Cuidao Holding Corp. explained, "We want our shareholders to know that investors who purchase CDAO shares after the record date, but prior to the distribution date, are entitled to the additional split shares from the split."
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