PISCATAWAY, N.J., Jan. 28, 2011 (GLOBE NEWSWIRE) -- PRG Group, Inc. (Pink Sheets:PRGJ), a leading full-service business process outsourcing company focused on serving middle-market enterprises, is providing additional information regarding announcement of dividend in privately held company. PRG Group, Inc. will issue a dividend to those who are shareholders of record on the close of business, January 31, 2011. All broker-dealers, banks, mutual funds, or credit unions will be required to deliver proof of share ownership to transfer agent to participate in dividend on behalf of shareholder. The transfer agent will provide a certificate of share ownership to legitimate shareholders of record. All of the aforementioned actions in this process should be handled by the shareholder's designated agent.
As previously announced:
Distribution Ratio: Shareholders of the Parent will receive as a dividend that number of common shares of the Subsidiary which is equal to one (1) common share of the Subsidiary for each hundred (100) common shares of the Parent held by them as of the close of business on the Record Date. No fractional shares or payment therefore shall be made incident to the dividend; rather any fractional shares of the Subsidiary to be received by the Parent's shareholders shall be rounded up to the next whole share.
The Board of Directors will meet on February 18th, 2011 to structure and finalize the corporate action. The company will notify its shareholders and will post a proxy form on its website for shareholders to participate in the final approval.
About PRG Group, Inc.
PRG Group is a global information, consulting and technology provider that specializes in delivering company wide solutions specifically in the areas of managed services, remote support, business software integration and optimization and enterprise-wide voice, data, networking, unified communications, and security solutions to customers worldwide. PRG Group, Inc. supports middle-market established businesses that already outsource, and businesses seeking to maximize return-on-investment from their in-house workforce. For more information, please visit http://www.prg-group.com.
Forward Looking Statements
Statements made in this press release that are not historical facts constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21 of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements rely on a number of assumptions concerning future events, many of which are outside of the Company's control, and involve risks and uncertainties that could cause actual results to differ materially from opinions and expectations. All information in this release is as of the date hereof. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
CONTACT: Media Contact: PRG Group, Inc. Investor_Relations@prg-group.com Tel: 732 665 0008