LONDON, Jan. 10, 2011 (GLOBE NEWSWIRE) -- Cloud Centric Systems, Inc. (Pink Sheets:CLDR) announces today that the program to increase shareholder value continues on track with the Officers confirming that half of the 1.1bn has now been retired to the treasury, leaving only 550m shares yet to be approved for return.
"The paperwork involved in any share transaction which includes officers' shares is never simple, and we can announce today that 550,000,000 shares have completed the process and have been retired to the treasury," stated David Lovatt, CEO of Cloud Centric Systems, Inc. "We have a short while to go before all the officers' share certificates clear the process and I expect all 1.1bn to have cleared the process by the end of the month," continued Lovatt.
Clodoes ud Centric Systems, Inc. recently announced that the date to reduce the Authorized Share Capital to 3bn would be Monday 31st January 2011. This is a reduction of 40% on the previous Authorized figure, of 5bn. The company received a massive boost in December by signing a $1m Term Sheet for finance which will be used to grow the VizualMobile subsidiary, making it an incredibly attractive business for en users and investors alike.
About Cloud Centric Systems:
Cloud Centric Systems specializes in cloud based technologies that use the Internet to deliver business critical applications via a global network of partners. Cloud Centric Systems plans to grow via strategic acquisition over the coming 12 months as well as strong sales through its subsidiaries, Cloud Centric Systems (UK) ltd and VizualMobile Ltd.
For more information, please visit
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
CONTACT: Investor Relations 1 347 404 5346