FORT LAUDERDALE, Fla., March 29, 2012 /PRNewswire/ -- Star Entertainment Group, Inc. (OTC: SETY.PK) announced today that, pursuant a special meeting of the Board of Directors held on March 26th, 2012, the Directors have passed a resolution declaring a stock dividend to all stockholders and set the record date for stock dividends to be 5pm EST, May 5th, 2012.
Significant new operations and a number of key consumer media technology acquisitions are to be announced shortly. The Company's new operations and acquisitions will not require the issuance of Common Stock or debt to complete. No reverse-split, name change or any other Corporate Action will occur as part of the Company's new growth and acquisition plan.
In anticipation of the new growth plan and as a reward for the loyalty shareholders have shown, the Board has voted to pay all shareholders on record, a 3% stock dividend. This dividend would issue each shareholder 3 new shares for every 100 held.
Standard Ex-Dividend rules will apply and the Ex-Dividend Date has been set at May 5th, 2012. All shares purchased one day prior to the Ex-Dividend Date will qualify for the Stock Dividend, but those shares purchased on the Ex-Dividend Date of May 5th, 2012 or after, will not be eligible for the Stock Dividend. In order to qualify for this dividend, shares held cannot be sold before the May 5th Ex-Dividend Date.
New share certificates will be mailed directly to all qualifying shareholders of record by the Company's Transfer Agent within 30 days of the Record Date. The Company recommends that all stockholders contact their brokers to ensure their mailing information is current so that there will not be any issues in the delivery of the new stock certificates.
In addition to its various upcoming announcements, the Company will publish its new web sites, revenue and asset projections and timely file complete public disclosures thereby bringing the Company to 'current' reporting status with the OTC Disclosure service.
About Star Entertainment Group
Star Entertainment Group Inc. is an independent investment, management, and holding company focusing on new media and digital content, delivery and monetization of multi-dimensional Online Customer Communities through the integrated use of online; interactive, real-time Internet television broadcasting; Internet radio networks; participatory mobile applications; proprietary search capabilities and intuitive advertising platforms. The Company will operate as a central hub, utilizing our strengths in M&A, capital and resource management and will proactively minimize risk by teaming with experienced technologies operators, leveraging their experience and knowledge.
Safe Harbor Statement: This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives and goals of the Company management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include but are not limited to risks and uncertainties associated with the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.
SOURCE Star Entertainment Group, Inc.