HSW International, Inc. Announces 10-for-1 Reverse Stock Split, Expected to be Effective February 17, 2010
February 08 2010 - 8:51AM
HSW International, Inc. (Nasdaq:HSWI), a developer and operator of
Internet businesses focused on providing locally relevant, high
quality information, today announced that its board of directors
authorized a 10-for-1 reverse split of its issued and outstanding
common shares, effective for shareholders of record on February 10,
2010.
The reverse stock split is intended to enable the company to
regain and maintain its qualification for listing on the NASDAQ
Stock Market. The reverse split is anticipated to be
effective on February 17, 2010. Immediately after the reverse
stock split, HSW International will have approximately 5,369,000
common shares outstanding.
For the 20-day period following implementation of the reverse
split, the company's ticker symbol will be "HSWID" to reflect the
post-split price. Following that period, the ticker symbol
will revert to "HSWI."
About HSW International, Inc.
HSW International, Inc. (Nasdaq:HSWI) develops and operates
Internet businesses focused on providing consumers in the world's
emerging digital economies with locally relevant, high quality
information. The Company's leading brands BoWenWang
(bowenwang.com.cn) and ComoTudoFunciona (hsw.com.br) provide
readers in China and Brazil with thousands of articles about how
the world around them works, serving as destinations for credible,
easy-to-understand reference information. HSW International is the
exclusive licensee in China and Brazil for the publication of
translated content from HowStuffWorks.com, a subsidiary of
Discovery Communications. The Company is headquartered in Atlanta
and incorporated in Delaware.
Forward-Looking Statements
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release that are not
historical facts are "forward-looking statements" under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. The
potential risks and uncertainties address a variety of subjects
including, for example: the continued listing of HSW
International's securities on the Nasdaq Global Market; reliance on
third parties such as World Book for content; challenges inherent
in developing an online business in foreign countries, notably
China and Brazil, including obtaining regulatory approvals and
adjusting to changing political and economic policies; governmental
laws and regulations, including unclear and changing laws and
regulations related to the internet sector in foreign countries,
especially China; general industry conditions and competition;
general economic conditions, such as interest rate and currency
exchange rate fluctuations; and restrictions on certain
intellectual property under agreements with third parties. For a
more detailed discussion of such risks and uncertainties, refer to
HSW International's reports filed with the Securities and Exchange
Commission pursuant to the Securities Exchange Act of 1934. These
risks and uncertainties could cause actual results to differ
materially from those expressed in or implied by the
forward-looking statements, and therefore should be carefully
considered. The forward-looking statements contained herein are
made as of the date of this press release, and HSW International
assumes no obligation to update any forward-looking statements
after the date hereof, except as required by law.
CONTACT: Kreab Gavin Anderson
William G. McBride
212-515-1970
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