Edd Helms Group Shareholders Approve Going Private with Reverse Stock Split at Shareholder Meeting
An SEC Form 8K was filed today announcing that Shareholders of Edd Helms Group on May 28, 2009 approved a transaction involving an amendment to the Company's Articles of Incorporation to effectuate a 1-for-2,000 Reverse Stock Split. Fractional Shares will be redeemed for cash consideration of $0.40 per pre-split share. As of the Record Date of April 23, 2009 for the Shareholder Meeting, there were 1,294 shareholders of record. Following the reverse stock split, there will be 46 shareholders of record. This reverse stock split became effective on May 29, 2009, following the filing of the Articles of Amendment with the Secretary of State of the State of Florida. The Company filed a Form 15 on June 1, 2009 terminating its obligations to comply with the Securities and Exchange Commission rules for a reporting company. To receive their cash for fractional shares, or to receive their new stock certificates, shareholders must return their original stock certificates along with a completed Letter of Transmittal to Registrar and Transfer Company, the Company's stock transfer agent. Shareholders can download this form from the Edd Helms Group website at www.eddhelms.com/reverseSS.asp . In the event the original stock certificate has been lost, the Letter of Transmittal includes an Affidavit for Lost Stock Certificates where the shareholder can purchase a bond for 1.5% of the market value (# of shares x $0.40 per pre-split share) with a minimum bond of $25.00 from the Travelers Casualty & Surety Company of America. The Company's shares may or may not continue to be traded through the Pink Sheets. Registrar and Transfer will remain our stock transfer agent. The Company will continue to provide annual financial statements to its Shareholders. The reverse stock split was approved at a meeting of the Shareholders on May 28, 2009 by a vote of 10,036,793 in favor. There were no votes against the transaction and there were no abstentions. The total number of shares issued and outstanding at the time of the vote was 11,210,304.