Pan Global Corp., a company that focuses on building environmentally sustainable energy sources and technologies, today discussed its recent reduction of issued and outstanding common shares from 455,155,000 to 155,155,000. The company recently finalized a common stock for preferred stock exchange agreement with its majority shareholder to exchange 300,000,000 common shares for 3,000,000 shares of Series C Convertible Preferred Shares.
Pan Global Corp. noted the benefits of this agreement for its future enterprises and its shareholders. Lessening its amount of outstanding common shares strengthens and bolsters its cap structure, which will be an asset in helping the company in its efforts to attract investments and make acquisitions for further build-up. Pan Global also noted that Series C Convertible Preferred Shares are only convertible on a one-for-one basis. On that account it said that the dilution effect on current shareholders’ investment should be minimal.
The company plans to explore and implement new ways to bring value to its shareholders. Pan Global Corp. also looks forward to continue working with its wholly owned subsidiary, Pan Asia Infratech, to invest in green energy technology and infrastructure to build an inclusive green economy around the world.
More information about the Exchange Agreement can be found at: http://www.sec.gov/Archives/edgar/data/1492617/000149315213002025/form8-k.htm
For information regarding Pan Global Corp., visit: www.panglobalcorp.com
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