Systems America, Inc. Announces 5 for 1 Forward Stock Split, Approval Received From FINRA
August 09 2012 - 7:00AM
Systems America, Inc. (OTC: SYAI) ("Systems America" or the
"Company"), a premier provider of cloud computing and information
technology solutions, announced today that its Board of Directors
has approved a 5 for 1 forward split of its common stock. The
Company has received confirmation from FINRA regarding the
effective date of its proposed five-for-one forward split of its
common shares.
At the market opening on August 20, 2012, the Company's common
stock will begin trading on a post-split adjusted basis under the
new CUSIP number 871877304. The Company's ticker symbol of "SYAI"
will remain unchanged as a result of the forward split, although a
"D" will be appended ("SYAID") for approximately 20 business days
to indicate to investors of the recent reorganization.
As the result of the forward stock split, each shareholder is
entitled to exchange their existing shares for five times the
amount in new post-split shares, payable upon surrender. The
Company expects that shareholders holding common shares at
registered brokerage firms will have this forward split transaction
processed automatically in their accounts over the next few days.
Shareholders holding physical certificates representing their
shares are NOT required to submit their certificates for exchange
to receive full credit for forward split shares. Physical
certificate holders may contact the Company's transfer agent, OTC
Stock Transfer Inc., at (801) 272-7272 to facilitate the exchange
of their old certificates for post-split shares should they wish
to.
"Systems America is entering into a strong growth phase and has
identified multiple revenue opportunities ready to launch in the
near future," said Adesh Tyagi, Chairman & Chief Executive
Officer of Systems America. "When a company executes a forward
stock split from a position of strength, it can have very positive
results, including increased investor interest, improved stock
liquidity, and reduced administration costs. We believe it is the
right time to take this additional step in improving our equity
structure, which, together with the successful changes we have
already made, should benefit our stockholders." Adesh Tyagi further
added "We expect that the implementation of this stock split
strategy will place our stock price in a more attractive trading
range for a wider-range of long-term investors and have a positive
impact on our ability to fuel the future growth of the
Company."
About Systems America
Systems America is a premier provider of diversified cloud
computing and information technology solutions to commercial and
government clients worldwide. We are ranked one of the fastest
growing companies with multiple locations around the world. Systems
America delivers superior cloud computing, information technology
consulting services, and systems and integration services to
hundreds of clients worldwide. Building on a core competency of
efficient technology infrastructure outsourcing, the company is
headquartered in San Ramon, California, United States. For
additional information about Systems America, please visit
http://www.systemsamerica.com.
Forward-Looking Statements and Safe Harbor
Statement:
The information provided herein may include forward-looking
statements. These forward-looking statements may be identified by
the use of terms and phrases such as "anticipates," "believes,"
"can," "could," "estimates," "expects," "forecasts," "intends,"
"anticipates", "may," "plans," "projects," "targets," "will," and
similar expressions or variations of these terms and similar
phrases. These forward-looking statements are largely based on our
current expectations and projections about future events and
financial trends affecting the financial condition of our business.
Such forward-looking statements include, without limitation,
projections about our possible future results, statements about our
plans, strategies, business prospects, changes and trends in our
business and the markets in which we operate. Additionally,
statements concerning future matters such as new business models,
new products, product enhancements, new technologies, sales levels,
expense levels and other statements regarding matters that are not
historical are forward-looking statements. Management cautions that
these forward-looking statements relate to future events or our
future financial performance and are subject to business, economic,
regulatory and other risks and uncertainties, both known and
unknown, that may cause actual results, levels of activity,
performance or achievements of our business or our industry to be
materially different from those expressed or implied by any
forward-looking statements. There is no certainty or assurance that
any prospective events referenced as forward-looking statements
will be achieved. The Company undertakes no duty to provide updates
with respect to matters disclosed in this press release.
CONTACT: Press Contact:
Systems America, Inc.
Investor.Relations@systemsamerica.com