Obee's Franchise Systems, Inc. Announces Date Of 30 - 1 Stock Split
PORT CHARLOTTE, Fla. -- Obee's Franchise Systems, Inc. (OTC Pink Sheets: OBFC) today announced the date of the company's recently announced forward stock split. The official date of the stock split will be July 20, 2007. All shareholders of OBFC stock as of the market closing at 4:00 p.m. on July 19th will receive 30 shares of common stock for each share owned.
The company issued the following statement:
The Board of Directors of Obee's Franchise Systems, Inc. is pleased to announce the completion date for our forward stock split as July 20, 2007. We believe this decision will enable the company to engage in a new level of growth and expansion. We continue to support the interests of all our long- time shareholders, and believe this decision marks the beginning of an exciting new chapter for our company.
About Obee's Franchise Systems, Inc.
Obee's(R) Soups Salads & Subs is owned by Obee's Franchise Systems Inc., a publicly-traded company on the over-the-counter market, symbol OBFC.PK. Obee's currently has over 50 restaurants open and in development across 21 states. The company has commitments to open over 1,000 additional locations over the next ten years. The chain has won numerous local and regional awards for its food menu and service.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities and Exchange Act of 1934 and is subject to the safe harbor created by these sections. Obee's Franchise Systems, Inc. assumes no obligation to update the information contained in this press release. Certain information included herein may contain statements that are forward-looking, such as statements relating to plans for future expansion and other business development activities as well as operating costs, capital spending, financial sources and the effects of competition. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results. Accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Companies.
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