Message #32 From:
Stock News Bot Date: February 22, 2007 05:00:00 AM
GLOI News GlobalOptions Group Announces Reverse Stock Split
NEW YORK--(BUSINESS WIRE)--GlobalOptions Group, Inc. (OTCBB: GLOI), a leading provider of domestic and international risk management services, today announced that the company will institute a reverse stock split of its outstanding common stock at a ratio of 1-for-8 shares for all shareholders of record as of the market opening on March 6, 2007. The company's common stock will continue to trade on the OTC Bulletin Board on a split-adjusted basis when the market opens that day, under the current stock symbol GLOI. Under the terms of the split, for every eight shares of issued and outstanding common stock, a shareholder will receive one share of common stock. No fractional shares will be issued in connection with the reverse stock split; for any fractional ownership, the company will issue one whole share for any fractional interest.
“As GlobalOptions approaches $100 million in revenue, we are taking this step to lay the foundation whereby a broader base of shareholders can benefit from our unmatched management team, unique portfolio of offerings, and vision to be the leading provider of risk assessment and mitigation services worldwide,” said Dr. Harvey W. Schiller, CEO and Chairman of GlobalOptions Group.
About GlobalOptions Group, Inc.
GlobalOptions Group, with headquarters in New York City and offices in 16 cities, is a provider of high-end risk assessment and mitigation services to Fortune 1000 corporations, governmental organizations and high-profile individuals throughout the world. GlobalOptions Group’s services currently include risk management and security, investigations and litigation support, and crisis management. These engagements take GlobalOptions Group staff around the world and are typically highly-sensitive engagements where GlobalOptions Group is interacting with senior leaders in corporations and governments. Its overall mission is to identify, evaluate, assess, prevent and correct issues that may threaten people, organizations or strategic initiatives for corporations or governments. www.globaloptionsgroup.com
Statements in this press release regarding the company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties.The company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1994, and as such, speak only as of the date made. To the extent the content of this press release includes forward-looking statements, they involve various risks and uncertainties including the successful integration of the acquired businesses, projected financial information, and the continued successful implementation of the company’s business strategy.
Certain of these risks and uncertainties will be described in greater detail in GlobalOptions Group’s filings with the Securities and Exchange Commission.GlobalOptions Group is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
