|
|
HSW International, Inc. Announces 10-for-1 Reverse Stock
Split, Expected to be Effective February 17, 2010
GlobeNewswire 2010-02-08
ATLANTA, Feb. 8, 2010 (GLOBE NEWSWIRE) -- HSW International, Inc.
(Nasdaq:HSWI), a developer and operator of Internet businesses focused
on providing locally relevant, high quality information, today
announced that its board of directors authorized a 10-for-1 reverse
split of its issued and outstanding common shares, effective for
shareholders of record on February 10, 2010.
The reverse stock split is intended to enable the company to regain and
maintain its qualification for listing on the NASDAQ Stock Market. The
reverse split is anticipated to be effective on February 17, 2010.
Immediately after the reverse stock split, HSW International will have
approximately 5,369,000 common shares outstanding.
For the 20-day period following implementation of the reverse split,
the company's ticker symbol will be "HSWID" to reflect the post-split
price. Following that period, the ticker symbol will revert to "HSWI."
About HSW International, Inc.
HSW International, Inc. (Nasdaq:HSWI) develops and operates Internet
businesses focused on providing consumers in the world's emerging
digital economies with locally relevant, high quality information. The
Company's leading brands BoWenWang (bowenwang.com.cn) and
ComoTudoFunciona (hsw.com.br) provide readers in China and Brazil with
thousands of articles about how the world around them works, serving as
destinations for credible, easy-to-understand reference information.
HSW International is the exclusive licensee in China and Brazil for the
publication of translated content from HowStuffWorks.com, a subsidiary
of Discovery Communications. The Company is headquartered in Atlanta
and incorporated in Delaware.
Forward-Looking Statements
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Statements in this press release that are not historical
facts are "forward-looking statements" under the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve risks and uncertainties that could
cause actual results to differ materially from those described in the
forward-looking statements. The potential risks and uncertainties
address a variety of subjects including, for example: the continued
listing of HSW International's securities on the Nasdaq Global Market;
reliance on third parties such as World Book for content; challenges
inherent in developing an online business in foreign countries, notably
China and Brazil, including obtaining regulatory approvals and
adjusting to changing political and economic policies; governmental
laws and regulations, including unclear and changing laws and
regulations related to the internet sector in foreign countries,
especially China; general industry conditions and competition; general
economic conditions, such as interest rate and currency exchange rate
fluctuations; and restrictions on certain intellectual property under
agreements with third parties. For a more detailed discussion of such
risks and uncertainties, refer to HSW International's reports filed
with the Securities and Exchange Commission pursuant to the Securities
Exchange Act of 1934. These risks and uncertainties could cause actual
results to differ materially from those expressed in or implied by the
forward-looking statements, and therefore should be carefully
considered. The forward-looking statements contained herein are made as
of the date of this press release, and HSW International assumes no
obligation to update any forward-looking statements after the date
hereof, except as required by law.
CONTACT: Kreab Gavin Anderson
William G. McBride
212-515-1970
|
|
|