PayChest To Complete Share Retirement


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PK:PYCT
05/05/2014 [ACCESSWIRE]

HONG KONG / ACCESSWIRE / May 5, 2014 / Paychest, Inc. (PINKSHEETS: PYCT) PayChest Inc. (the "Company") announces it plans to progress and complete  the share retirement started in 2011. 

In November 2011 the Company announced it would buyback 300,000,000 common shares of which 200,000,000 were completed. A further buyback of 100,000,000 had been agreed but were put on hold as the DTC chill came to light. The Company now plans to complete the buyback of the remaining 100,000,000 shares and retire these as originally intended with the goal of reducing the shares outstanding.

The company’s transfer agent, Transfer Online, will be notified of this change. Once completed these changes will be reflected on the Company website, www.paychest.com, and www.pinksheets.com.

The shares outstanding as of today are 27.785,264,936 shares which upon completion of the buyback will be reduced to 27,685,264,936.

The Company may consider further share buyback in due course.

NOTES ABOUT FORWARD-LOOKING STATEMENTS

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's filings with OTC Markets http://www.otcmarkets.com/stock/PYCT/financials.

Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.

Contact:

Paychest, Inc. ir@paychest.com

Tom Hands : 1-416-619-5242 from overseas: +1-416-619-5242

SOURCE: PayChest Inc.

Historical news releases on the Company can be found at http://www.paychest.com/news.htm.
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