Ultimate Franchise Systems, Inc. Announces Reverse Stock Split
Ultimate Franchise Systems, Inc. (OTC Pink Sheets: UFSJ), a fast food franchise management company, announced today that its Board of Directors has voted to implement an 8 for 1 reverse stock split of the company's outstanding shares of common stock. The effective date of the reverse stock split will be announced at a future date.
As a result of the reverse stock split, each eight (8) shares of common stock will be combined into one (1) share of common stock. The Company will not issue any fractional shares of its common stock as a result of the reverse split. Stockholders who hold their shares in brokerage accounts or "street name" will not be required to take any action to effect the exchange of their shares. Stockholders of record who hold share certificates will receive a letter of transmittal requesting that they surrender their old stock certificates for new stock certificates reflecting the adjusted number of shares as a result of the reverse stock split.
About Ultimate Franchise Systems, Inc.
Ultimate Franchise Systems, Inc. (UFSJ) is a venture management company that develops ownership positions with mid-sized businesses, primarily in the restaurant industry. The company then assists these businesses with purchasing, marketing and management to enhance their operations and improve revenue streams and growth potential.
About Ultimate Franchise Systems, Inc.
Ultimate Franchise Systems, Inc. (UFSJ) is a venture management company that develops ownership positions with mid-sized businesses, primarily in the restaurant industry. The company then assists these businesses with purchasing, marketing and management to enhance their operations and improve revenue streams and growth potential.
