HOUSTON, Jun 16, 2010 (BUSINESS WIRE) — National Clean Fuels (PinkSheets: NACF) announced today that it will conduct a Forward Split of its common stock on the basis of four shares for each one share held by shareholders on the date the forward split becomes effective.
This means that if you hold 1,000 shares on the day prior to the forward stock split, you will automatically have 4,000 shares of common stock on the day the forward stock split is effective. The total dollar value of the shares you hold is not affected by the split. The total face value of your shares remains the same.
National Clean Fuels believes it will be in the best interest of its shareholders to reduce the market price from its current range by way of the forward stock split in order to facilitate increased liquidity in its common stock. Markets are determined, of course, by the number of buyers and sellers interested in purchasing or selling their shares respectively. The Company feels that shareholders will benefit from the reduced per share price produced by the forward stock split. If one share is worth $5 on the day before the reverse stock split, then the four shares held on the effective date would each be worth $1.25 on the open the following day.
National Clean Fuels aggressively develops alternative energy projects and profitable clientele relationships in a sector that is growing to compete in the energy industry, which contains Valero Energy Corporation (VLO 17.99, +0.05, +0.28%) , BP (BP 31.76, +0.05, +0.16%) , Suncor Energy Inc. (SU 33.83, 0.00, 0.00%) and Linn Energy LLC (LINE 26.19, -0.19, -0.72%) .
About National Clean Fuels, Inc.
National Clean Fuels, Inc. (NACF) commercializes cutting edge clean energy technologies. National Clean Fuels, Inc. is an emerging industry player capitalizing on its understanding of clean energy technology and supporting the development of alternative energy plans for corporations and government entities.
For more information, visit http://www.nationalcleanfuels.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: 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,” “anticipate” 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 speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
