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GLOBAL HEMP GROUP INC./ARRIS HOLDINGS INC. ANNOUNCE RESULTS OF THE AGSM, NAME CHANGE, STOCK SPLIT AND APPOINTMENTS
Arris Holdings Inc. provided the results of its annual general special meeting of shareholders, held on Feb. 7, 2014, in Surrey, B.C. At the meeting, shareholders voted in favour of motions to elect the company's nominees for directors: Charles Larsen, Reid Jilek, Donald Steinberg, Mikhail Gurfinkel and Sandy Janda. At the meeting the shareholders approved a special resolution to change the name of the company to Global Hemp Group Inc. and also approved a five-for-one stock split of the company's issued and outstanding shares.
Pursuant to the rules of the Canadian Securities Exchange (CSE) the common shares will begin trading on a poststock split basis under the new name of Global Hemp Group under a new symbol of GHG and new CUSIP No. 37953Y104 on Feb. 19, 2014. The company will continue trading on both the Frankfurt Stock Exchange and the Canadian Securities Exchange, and at this time is the only fully reporting company in the industrial hemp sector to trade on multiple exchanges.
Arris believes that the stock split will enhance liquidity in the company. Currently the company has a total of 23,583,372 common shares issued and outstanding. Following the stock split the company will have a total of 117,916,860 common shares issued and outstanding.
Immediately following the meeting, the board reappointed the following senior officers: Charles Larsen as chief executive officer and president, and Larry Tsang as chief financial officer.