Post by hexges on Apr 27, 2005 15:29:32 GMT -5
UNQT -- Union Equity, Inc.
Com ($0.0000001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Union Equity Addresses Issue of Short Selling; Asks Shareholders to Request Stock Certificates; Record Date Today for 600% Dividend
PALM BEACH, Fla., Apr 27, 2005 (BUSINESS WIRE) -- Union Equity Inc. (Pink Sheets:UNQT) encourages shareholders to request as much of their stock as possible be delivered to them in certificate form. This is being done to make it more difficult for market players to short the company's stock.
"I don't believe in the concept of shorting, I never have," said Union Equity CEO Michael Anthony. "If you are going to speculate in the market you should do so based on the belief that smaller business entities are going to become larger, more financially successful companies. The concepts of economic growth and entrepreneurial innovation are the backbone of the American way of life. Personally, I would never bet on the demise of any company."
According to a recent article by journalist Joel S. Hirschhorn, "Company stocks can be sold short. Shares are borrowed from brokers who actually have them (or can get them), transferred to the purchaser, and then returned to the lender by the short seller. The short seller sees a relatively high price in the stock market and bets that the price will decline significantly. Then the stock can be bought and returned to the original lender within three days. But `naked shorting' is different. No actual stock is borrowed and delivered to the purchaser, even though the purchaser pays the short seller. The investor believes that real stock has been delivered to their account. Naked short selling has been illegal since 1933, but it has still flourished."
Union Equity requests that shareholders contact their broker/dealers and request that their shares of company stock be delivered to them in certificate form in order to make it more difficult for short-sellers to borrow stock. Theoretically, if there are fewer shares out there for short-sellers to borrow, it makes it harder for them to achieve their objective.
In 2004 Regulation SHO (for "short") was promulgated in an attempt to curtail naked shorting.
In addition, Union Equity has recently approved a 600% dividend in the form of a six-for-one forward split of its common stock issued and outstanding as of 4/27/05 (the record date). Odd lots shall be rounded up. Shareholders of record on 4/27/05 will receive six additional shares for every one share of common stock owned on that date.
About Union Equity
Union Equity is a national real estate development and holding company, specializing in the fields of Residential Property Development, Mortgage Finance and Construction of New Residential Properties. The company operates independently and through its wholly-owned subsidiary Eden Development Group and plans to grow aggressively over the next two to three years through acquisitions, mergers and internal growth.
About the Industry
Florida ranked fifth nationally in housing appreciation in 2004.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, which represents the Company's expectations or beliefs concerning, among other things, future operating results and various components thereof and the adequacy of future operations to provide sufficient liquidity. The Company cautions that such matters necessarily involve significant risks and uncertainties that could cause actual operating results and liquidity needs to differ materially from such statements, including, without limitation: (i) increased competition, (ii) fluctuations in price, demand and supply of real estate markets and (iii) risks associated with high capital long term investments.
Further information on the company can be found on their website; www.UNQT.com.
SOURCE: Union Equity Inc.
CONTACT: Union Equity Inc., Palm Beach
Investor Relations, 800-916-3457
Fax: 800-916-3451
contact@union-equity.com
Copyright Business Wire 2005
-0-
KEYWORD: United States
North America
Florida
INDUSTRY KEYWORD: Professional Services
Finance
Construction & Property
Commercial Building & Real Estate
Residential Building & Real Estate
Other Construction & Property
Com ($0.0000001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Union Equity Addresses Issue of Short Selling; Asks Shareholders to Request Stock Certificates; Record Date Today for 600% Dividend
PALM BEACH, Fla., Apr 27, 2005 (BUSINESS WIRE) -- Union Equity Inc. (Pink Sheets:UNQT) encourages shareholders to request as much of their stock as possible be delivered to them in certificate form. This is being done to make it more difficult for market players to short the company's stock.
"I don't believe in the concept of shorting, I never have," said Union Equity CEO Michael Anthony. "If you are going to speculate in the market you should do so based on the belief that smaller business entities are going to become larger, more financially successful companies. The concepts of economic growth and entrepreneurial innovation are the backbone of the American way of life. Personally, I would never bet on the demise of any company."
According to a recent article by journalist Joel S. Hirschhorn, "Company stocks can be sold short. Shares are borrowed from brokers who actually have them (or can get them), transferred to the purchaser, and then returned to the lender by the short seller. The short seller sees a relatively high price in the stock market and bets that the price will decline significantly. Then the stock can be bought and returned to the original lender within three days. But `naked shorting' is different. No actual stock is borrowed and delivered to the purchaser, even though the purchaser pays the short seller. The investor believes that real stock has been delivered to their account. Naked short selling has been illegal since 1933, but it has still flourished."
Union Equity requests that shareholders contact their broker/dealers and request that their shares of company stock be delivered to them in certificate form in order to make it more difficult for short-sellers to borrow stock. Theoretically, if there are fewer shares out there for short-sellers to borrow, it makes it harder for them to achieve their objective.
In 2004 Regulation SHO (for "short") was promulgated in an attempt to curtail naked shorting.
In addition, Union Equity has recently approved a 600% dividend in the form of a six-for-one forward split of its common stock issued and outstanding as of 4/27/05 (the record date). Odd lots shall be rounded up. Shareholders of record on 4/27/05 will receive six additional shares for every one share of common stock owned on that date.
About Union Equity
Union Equity is a national real estate development and holding company, specializing in the fields of Residential Property Development, Mortgage Finance and Construction of New Residential Properties. The company operates independently and through its wholly-owned subsidiary Eden Development Group and plans to grow aggressively over the next two to three years through acquisitions, mergers and internal growth.
About the Industry
Florida ranked fifth nationally in housing appreciation in 2004.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, which represents the Company's expectations or beliefs concerning, among other things, future operating results and various components thereof and the adequacy of future operations to provide sufficient liquidity. The Company cautions that such matters necessarily involve significant risks and uncertainties that could cause actual operating results and liquidity needs to differ materially from such statements, including, without limitation: (i) increased competition, (ii) fluctuations in price, demand and supply of real estate markets and (iii) risks associated with high capital long term investments.
Further information on the company can be found on their website; www.UNQT.com.
SOURCE: Union Equity Inc.
CONTACT: Union Equity Inc., Palm Beach
Investor Relations, 800-916-3457
Fax: 800-916-3451
contact@union-equity.com
Copyright Business Wire 2005
-0-
KEYWORD: United States
North America
Florida
INDUSTRY KEYWORD: Professional Services
Finance
Construction & Property
Commercial Building & Real Estate
Residential Building & Real Estate
Other Construction & Property