The Automotive Resource Network Holdings, Inc. Today Announced the Final Actions Have Been Completed to Greatly Reduce the Issued and Outstanding Shares of the Company
NEW YORK, Feb. 24, 2012 /PRNewswire/ -- The Automotive Resource Network Holdings (OTCPink: ARNH) announced today in a continued effort to restructure the company each Director/Executives' holding Restricted Director Shares has agreed to reduce the amount of shares each individual holds.
The Directors/Executives' stock positions in the company have been decreased from 660 Million shares to 110 Million restricted shares as per SEC guidelines in a continued effort to position the company for success both now and in the future. "We believe this is a major step in the right direction and provides us with the mechanism to bring true value as we move into 2012," said Paul Redmayne, COO of TheARN.
About The Automotive Resource Network, Inc.: The Automotive Resource Network, Inc. offers a unique month to month vehicle service contract and roadside assistance products direct to consumers through independent sales channels.
Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release relating to The Automotive Resource Network Holdings, Inc.'s future plans, expectations, beliefs, intentions and prospects are "forward-looking statements" and are subject to material risks and uncertainties. When used in this press release, the words "will," "future," "expect," "look forward to," similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of The Automotive Resource Network Holdings, Inc. (the "Company") that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur. All information set forth in this press release is current as of February 24, 2012. The Company undertakes no duty to update any statement in light of new information or future events unless required by law.
Contact:
The Automotive Resource Network Holdings, Inc.
[email protected]
SOURCE The Automotive Resource Network Holdings, Inc.
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