Cooper Holding Corp. Cancels 3 Billion Shares Reducing Authorized Count by 75%
COTTAGE GROVE, TN, Jul 13, 2012 — Cooper Holding Corp. (PINKSHEETS: COHO) announced today that its Board of Directors has approved a comprehensive Growth and Value Plan that includes sweeping initiatives designed to position Cooper Holding for accelerated growth and increased financial stability.
CEO, Daniel Cooper, “We are excited to announce that effective immediately Cooper Holding Corporation has reduced our authorized common share count by 3 Billion. The reduction was voted on and passed during our last board meeting and we wanted to wait until it was finalized before making an announcement of this magnitude. I am committed to the shareholders of this company and will continue to do everything within my power to provide value to our loyal supporters. One of our goals was to make the capital structure more appealing to both current and potential investors. We think this move will provide the leverage needed to effectively negotiate a structured capital agreement that protects our shareholders and provides our management team with the tools to accelerate growth. This is just the beginning; we have laid a strong foundation for a successful future and will continue to work hard towards achieving our goals.”
Executive Vice President, Timothy Durant, “The current Capital Structure now stands at 1,000,000,000 common shares authorized, down 75% from the original 4,000,000,000. The outstanding common share count remains unchanged at 743,945,913. We are still looking at additional cuts but have been advised not to release additional details until complete. We will however provide complete details on the New Capital Structure in our next press release and on the corporate website.”