WUHAN, China, June 5, 2018 /PRNewswire/ – TMSR Holding Company Limited ("TMSR" or the "Company") (NASDAQ: TMSR), a holding company with its subsidiaries engaging in the production and sales of solid waste recycling and comprehensive utilization equipment, today announced that, effective at 5:00 pm Eastern Time on June 20, 2018, the Company will effect a 2-for-1 forward stock split of its common stock (the "Forward Split") as well as an increase of its capital stock from 110,000,000 to 220,000,000 shares ("Capital Increase"). All holders at the close of business on June 14, 2018 (the "Record Date") will receive one additional shares for every one share they currently own as a result of the Forward Split. Payment of the additional shares will be made on the June 20, 2018.
Beginning with the opening of trading on June 21, the Company's common stock will continue to trade on the NASDAQ Capital Market on a Forward Split adjusted basis. No fractional shares will be issued in connection with the Forward Split. As a result of the Forward Split, the stock price is expected to automatically decrease proportionally.
On June 20, 2018, at 6 P.M. Eastern Time, after the completion of the Forward Split, the Company will effectuate the Reincorporation and change its state of incorporation from Delaware to Nevada.
The Reincorporation does not result in any change in the Company's headquarters, business, jobs, management, and location of any of its offices or facilities, number of employees, assets, liabilities or net worth. Management, including all directors and officers, remain the same as the management of the Company prior to the Reincorporation.
The Forward Split, Capital Increase and the Reincorporation were approved by shareholders holding the majority of the outstanding common stocks of the Company on June 1, 2018 at the special meeting of shareholders in lieu of annual meeting.
Safe Harbor Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. These forward-looking statements may include, but are not limited to, statements containing words such as "may," "could," "would," "plan," "anticipate," "believe," "estimate," "predict," "potential," "expects," "intends", "future" and "guidance" or similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to change at any time. These forward-looking statements are based upon management's current expectations and are subject to a number of risks, uncertainties and contingencies, many of which are beyond the Company's control that may cause actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company's actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including those described under the heading "Risk Factors" in the Company's public filings with the Securities and Exchange Commission, including the Company's annual report on 10-K. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable law.
About TMSR Holding Company Limited
Founded in 2009, TMSR Holding Company Limited engages in the research, development, production and sale of an array of solid waste recycling systems for the mining and industrial sectors in the PRC. it provides end users in these markets with a clean alternative to traditional waste disposal by significantly reducing solid waste discharge into the environment and enabling such users to extract value from valuable metals and other industrial waste materials. For more information about TMSR, please visit www.tmsrholding.com.
Tony Tian, CFA
Weitian Group LLC
Phone: +1 732 910 9692