BEIJING, Sept. 23 /PRNewswire-FirstCall/ - MonArc Corporation http://www.monacorporation.com (Pink Sheets: MONA - News) is pleased to advise the following progress on the 2 of the 5 to 6 cash and stock dividends.
The issuer has identified a public company trading on Pink Sheets that will acquire PP365.Com on all stock basis. The majority of the purchase price will be paid to MONA shareholders. Our corporate advisors are currently working out the details of this which will be released shortly.
The issuer has also identified a public company trading on the Frankfurt Xetra exchange that will acquire the China Marketing Cosmetics company EEIGI on all stock basis. Unlike the USA markets where dividends must be issued from treasury in a form of restricted stock there is no such mandate in Germany. The majority of the purchase price will be paid to long term MONA shareholders. The corporate advisors are currently working out the details of this which will be released shortly. In addition work on a new website for EEIGI's proprietary line of all natural Health and Beauty Aids (HBA) is nearing completion.
MonArc and EEIGI have been collaborating on a completely new website to support the Direct marketing efforts of EEIGI. The Company is also in the process of registering a new name for English speaking markets: Sino-Cosmetica.
The website is undergoing a final editing process to review copy, and should be ready to go live within the next week to ten days. This is an important business milestone, and will provide a vital component to support continued expansion of the 7,000 plus direct sales representative network. This site will be used as a template for other languages, as the Company continues its planned rollout to new markets worldwide.
In other Company news, MonArc has representatives on the ground in China once again, and is working through the necessary legal agreements, operating agreements and corporate governance items in advance of finalizing the acquisition of Hubei Chuguan Industry Co. Ltd., as noted in previous press releases. This will be the 3rd dividend of the planned 5th or possibly 6th dividend paid out by the issuer. The reason the issuer is unsure if it will be 5 or 6 dividends at this time is the pending status of our China based broadband ISP Innotek. "Many have expressed interest in this company however the MONA management is not prepared to let go of this gem without receiving a premium", explained Mt. Yong, CEO of MONA.
It is planned that the last dividend (5th or 6th) will be paid in cash to our long term shareholders. The issuer for tax reasons, expects all disbursements in cash and stock to be completed by Dec 31, 2008 at latest.
MonArc CEO, Mr Yong Chan added, "This will be a very important acquisition for MonArc, and we have also been working on potential OTCBB candidate shells within which to place it after we have introduced the Company to North American investors. We really like what we have seen in this company. It is well-positioned to become a major player in the infrastructure of China's oil and gas industry. As we get closer to consummating the deal, we will put together a comprehensive profile of the company to explain its business model and scope of current operations to the investment community. Once PP365 is closed with the aforementioned Pink Sheet company buyer, it goes without saying I will be stepping down as CEO of MONA and joining the new company".
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
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