Averox Completes Previously Announced Forward Stock Split, Company to Change Symbol October 27, 2008
October 27 2008 - 10:52AM
Business Wire
The Board of Directors of Averox Inc. (OTCBB:AVOX) today announced
that it has effected a ten for one stock split effective October
27, 2008 and will, as of that date, trade under the symbol
OTCBB:AVRI. The split was effected through an amendment to Averox's
articles of incorporation in which each outstanding share of common
stock is being converted into ten outstanding shares of Averox
Common Stock. The authorized number of common shares of Averox has
been correspondingly increased to 250,000,000 shares from
25,000,000 shares. The Company had 10 million shares of common
stock outstanding prior to the split. As of October 27, it will
have 100 million shares of common stock outstanding. �We believe
the increase in the number of shares outstanding in the public
float resulting from the stock split will enable us to increase the
market for our stock and will help us expand our shareholder base,�
said Mr. Salman Mahmood, AVOX President and CEO. �We look forward
to beginning to trade under our new symbol OTCBB:AVRI. Such a
symbol change is standard after a stock split,� he continued. About
Averox Inc. (www.averox.com) Averox Inc. (OTCBB:AVRI) is a publicly
held independent provider of solutions and services in the domains
of Telecommunication Engineering, Telecommunication OSS and BSS and
Information Technology. Averox services include offshore product
development, application management, project management, program
management, telecommunications network deployment, management,
optimization and maintenance for small, medium and large
enterprises. Averox Inc. has two principal subsidiaries Averox
Private Limited and Averox FZ-LLC. This news release contains
certain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
are based on Averox management's current expectations and are
subject to risks and uncertainties and changes in circumstances.
All forward-looking statements included in this press release are
based upon information available to Averox as of the date of the
press release, and it assumes no obligation to update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise. Further information on risks or other
factors that could affect Averox' results of operations are
detailed in the filings of Averox with the SEC.
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