BEIJING, China, Dec. 19, 2014 /CNW/ - Pan Ocean Container Supplies Ltd. (OTCQB: PAOC) (the "Company") effected an 8-1 forward stock split of its outstanding common stock. As a result of the forward stock split, every one share of Pan Ocean was reclassified into 8 common shares. Pan Ocean previously had 5,500,000 shares issued and outstanding common stock and upon completion of the Forward Split will now have 44,000,000 issued and outstanding common shares.
This action marks another important milestone of the merger process between the Company and Pan Ocean Container Supplies Co Ltd. of China. The newly merged entity PAOC will reflect very significant assets, revenues and long-term profitability.
Pan Ocean's President and CEO, Qi Tang, stated, "Because Pan Ocean is entering into a strong growth phase as a result of the merger with the China operation Pan Ocean Container Supplies Co. Ltd., we determined now was an excellent time to reward our loyal shareholders by improving our capital structure and allowing them to more fully benefit from the business merger. We anticipate that with our business model growing, this forward stock split will lead to many positive business effects, including enhanced market liquidity, faster price appreciation, narrowed bid/ask spreads, and broadening the financial audience of interested investors.
About Pan Ocean Container Supplies Ltd. (PAOC)
The Company is focused on becoming one of the largest container manufacturing operations in the world. PAOC is aiming to develop and produce newer lightweight containers, cold chain containers, non-standard multi-purpose containers, second generation smart containers and international general containers. The Company's design and production mission statement is "safety, green, smart and lightweight".
Safe Harbor Statement
This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release only speaks as of the date of its distribution.
SOURCE: Pan Ocean Container Supplies Ltd. (PAOC)
For further information: Investor Relations, Tel: 949-419-6588, Email: [email protected], http://www.chinapanocean.com