BARNSLEY, England, March 25, 2011 /PRNewswire/ -- MAM Software Group, Inc. (OTC Bulletin Board: MAMSD), a software, information, and related services company in the automotive aftermarket sector, has effected a decrease of our issued and outstanding common stock, in the form of a reverse stock-split, on a one-for-100 (1:100) basis, followed immediately by a forward stock-split, on a ten-for-one (10:1) basis, as of the opening of trading on March 25, 2011. Holders of less than one share after the reverse split will be paid cash in exchange for their fractional shares. One whole share will be issued in place of each fractional share that results from the forward split.
To reflect the reverse stock split, the Company's stock symbol was appended with the fifth character "D" and will be quoted under the symbol "MAMSD" until approximately April 22, 2011. During that time, the Company's Common Stock will continue to be quoted on Over-The-Counter Bulletin Board. After this period, the symbol will revert to "MAMS."
About MAM Software Group, Inc.
MAM Software Group, Inc. (OTC Bulletin Board: MAMS) is a supplier of business and ERP supply chain management solutions to automotive parts manufacturers, distributors and retailers. MAM Software Group provides the automotive aftermarket with a combination of business management systems, information products, and online services that together deliver benefits for all parties involved in the timely repair of a vehicle. For further information, please visit http://www.mamsoftwaregroup.com/.
This press release contains forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the company's business including, increased competition; the ability of the company to expand its operations through either acquisitions or internal growth, to attract and retain qualified professionals, and to expand commercial relationships; technological obsolescence; general economic conditions; and other risks detailed time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE MAM Software Group, Inc.