MARKHAM, Ontario, Nov. 9, 2004 (PRIMEZONE) -- ART International Corporation, (OTCBB:ARIOF) announces that the 2-for-1 stock split dividend with the record date of October 29, 2004, has been distributed to shareholders on the payment date of November 5, 2004. The Company's shares began trading on the Ex-date, Monday, November 8, 2004, with an adjusted price reflecting the increase in the outstanding common shares of the Company.
EXAMPLE: If a shareholder had 10,000 shares of ART in an account with a value of $0.30 on or before November 5, 2004 with a total value of $ 3,000.00 then on November 8, 2004 that same shareholder would have 20,000 shares with an adjusted value of $ 0.15 with a total value of $ 3,000.00.
Persons who purchased ART International Corporation common stock on the OTC Bulletin Board on or before November 5, 2004, were entitled to the stock dividend. After close of trading on November 5, 2004, the benefit of the stock dividend was no longer reflected in the trading price of ART International Corporation's common stock.
According to the Nasdaq Stock Market, notice of stock splits/dividends greater than 25% must be made to Market Data Integrity by issuers at least 10 calendar days prior to the Record Date. The Ex-Date is established by Market Integrity in accordance with Uniform Practice rules. The Payment Date is defined as the date on which a corporation makes payment of the declared distribution to its previously determined shareholders of record. The Ex-Date is defined as the first day the stock trades without the distribution (ex = without). This is also the day the price of the stock is reduced by amount of the distribution. The Ex-Date is set as the first business day after the Payment Date.
About ART International Corporation
ART International Corporation, through its wholly owned subsidiary, Diamant Film Inc., has secured a ten year agreement with Diamant Plastics Corporation for the exclusive marketing and distribution rights in the United States and Canada to Diamant(tm) Film, a non-PVC food stretch film. Diamant(tm) Film is the world's first plasticizer-free stretch film based on polystyrene and the first food wrap film that is environmentally friendly and recyclable. Diamant(tm) Film has recently been certified by the Environmental Choice(M) Program. The Environmental Choice Program is North America's leading benchmark of environmentally responsible products and services. Diamant has successfully met the criteria for both the environmental and performance standards.
For more information please visit our website, www.diamantfilm.com.
Safe Harbor
This release may contain forward-looking statements that involve uncertainties and risks. Actual results may differ materially from the results predicted. Important factors which could cause actual results to differ materially from those expected or implied in the forward-looking statements are detailed in filings with the Securities and Exchange Commission made from time to time by ART International Corporation including its periodic reports on Form 10-K, 10-Q and 8-K. ART International Corporation undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof.