BEIJING, Oct. 7 /PRNewswire-FirstCall/ - MonArc Corporation, www.monacorporation.com, (MONA.PK) after the market closed today, announced that it will be distributing a 20 cent (twenty cent) per share dividend to shareholders who have continuously held company stock since September 30, 2005.
The Company has allocated up to $250,000 to fund these dividends, which are expected to be issued before the end of the fourth quarter this year.
Corporate Secretary Garr Winters advised, "We have consistently maintained that we want long-term shareholders to be rewarded for their loyalty. This is in no small way a concrete demonstration of this commitment. We feel that the stock is trading well below its potential, and this is one manner for us to address the issue. We are also advised that this dividend payout may temporarily rein in the current short position we feel exists. Moving forward on a long term basis and with our 15c211 documents virtually days away from being filed (which to those unfamiliar with this process will bring us into compliance of being a solicited issuer), may put a damper on these future activities.
"We are working with the transfer agent to work out the specific details of the dividend such as the 'date of record' and the 'ex-dividend date' or 'ex-date.' We will be announcing further details shortly."
This is 1 of 5 dividends the issuer intends to pay to its shareholders, in stock and or cash on or before December 31, 2008.
Safe Harbour 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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