Vancouver, B.C. / ACCESSWIRE / October 1, 2014 / SecureCom Mobile Inc. (the "Company" or "SecureCom") (CSE: SCE) is pleased to announce that it intends to complete a forward stock split. The two (2) for one (1) forward stock split (the "Forward Split") has an intended record date of October 7, 2014 (the "Record Date").
The Company intends to execute the Forward Split using the 'Push-out Method' whereby the shareholders keep the shares they currently hold, and the shareholders of record as of the close of business on the Record Date are issued additional shares by the Company's transfer agent.
One (1) additional common share shall be issued for each one (1) common share held as of the close of business on the Record Date. The Company anticipates that the additional shares will be issued to holders on or about October 8, 2014 (the "Delivery Date").
Shareholders who hold their shares electronically in a brokerage account or other intermediary will have their accounts automatically updated in accordance with the stock split.
Registered shareholders holding shares via DRS statement will be issued additional shares through the Direct Registration System ("DRS"). DRS is an electronic form of share registration in "book-entry" form. Rather than delivering physical share certificates, the Company's transfer agent, Equity Financial Trust Company, will on the Delivery Date issue a "DRS Advice" to each holder confirming the additional shares issued and registered electronically in DRS.
Registered shareholders holding physical share certificates should retain their current share certificates, which will remain valid and continue to represent the number of shares indicated on those certificates. Share certificates representing additional shares issuable as a result of the stock split will be mailed to registered shareholders on or about the Delivery Date. The combination of the current share certificates and the additional share certificates will represent each shareholder's total post-split shareholdings. Any shareholder who holds restricted securities will be issued an additional restricted physical share certificate and will not be issued in DRS.
The Company currently has 30,294,684 issued and outstanding common shares. Upon completion of the Forward Split, the Company will have 60,589,368 issued and outstanding common shares.
The CSE has not reviewed, approved or disapproved the content of this press release.
About SecureCom Mobile Inc.
SecureCom Mobile(TM) develops and markets consumer software and hardware encryption communications products for mobile phones, tablets, and computer-based platforms. Its technology enables people to communicate, in complete privacy, with ease, using voice, text and data messaging. The Company employs cryptographically strong algorithms and protocols to shield communication from surveillance and analysis. Its encryption scheme cannot be circumvented by mobile carriers or other parties, thereby ensuring total privacy.
SecureCom Mobile(TM) products are developed for the Android platforms, and are expected to soon be available for the entire slate of popular OS platforms.
SecureCom Mobile Inc. trades on the Canadian Securities Exchange under the symbol SCE.
See http://www.securecommobile.com
For further information please contact:
Peter Wilson, CEO, and Director
Telephone: (778) 945-1368
E-mail: [email protected]
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of SecureCom. Forward-looking information is based on certain key expectations and assumptions made by the management of SecureCom, including future plans for the research and development of digital products. Although SecureCom believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because SecureCom can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. SecureCom disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE: SecureCom Mobile Inc.