IRVINE, Calif., June 28, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCQB:UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, electricity, petroleum and coal, announced that its largest Investor and shareholder is seeking to increase its stake in the Company.
The Investor, currently the largest shareholder in Universal Bioenergy, is potentially seeking to increase its holdings in the Company by another 10%, and acquiring an additional 254 million shares of the Company's outstanding shares of common stock. If the Investor intends to retire those shares it would significantly reduce the supply of outstanding shares in the open market, and could potentially increase the value of the Company's shares.
Universal Bioenergy's Senior Vice President, Solomon Ali states, "Although this is a matter primarily between the shareholders, we are characterizing this potential increase in the Investors stake in our Company as a strong endorsement of Universal Bioenergy and its future growth. Our goal is to remain focused on our customers, acquiring new profitable acquisitions, increasing our revenues and generating strong net profits this year. The fundamentals for Universal are improving. We feel our stock price is undervalued and this potential increased stake represents a good value for investors based on the future prospects of the Company. In the opinion of our Board and management, the underlying businesses of Universal are worth much that what is currently reflected in our present stock price. We believe, this could improve our marketcap, stock price and bring greater value to our shareholders."
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, electricity, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.