VANCOUVER, British Columbia, April 24, 2007 (PRIME NEWSWIRE) -- Global Developments Inc. (Pink Sheet:GDVM) is pleased to announce that at a meeting held on April 12, 2007, the Board of Directors approved a stock dividend in one of its portfolio investments.
The Board of Directors has announced that all Global shareholders of record at the close of business on April 30, 2007 will receive one share of Moto Auto Group Ltd., a wholly owned subsidiary, for every share of Global.
According to Richard Crofts, the interim, non-executive Chairman of the Board, "This dividend marks a continuation of Global Developments' stated policy of working to provide value to our loyal shareholders. Moto Auto Group aims to become a leader in the distribution of Chinese vehicles throughout the world. We are very excited about the potential of Moto, and we want to share this excitement with our shareholders."
The dividend will be issued on May 15, 2007.
About Moto Auto Group Ltd.
Moto Auto Group Ltd. is an importer of automobiles and automotive technology. In 2005, Moto Auto Group acquired ZX Auto Group Inc., a company involved in joint ventures with Chinese automobile assembly plants. Through this acquisition, Moto Auto Group became an importer of world-class Chinese automobiles, pick-up trucks and sport utility vehicles. For more information, please visit www.motoautogroup.com.
About Global Developments Inc.
Global Developments Inc. was formed to create a unique investment vehicle representing a growing portfolio of innovative and emerging growth-oriented companies. Global acquires its portfolio companies primarily as wholly or majority owned subsidiaries. As a result, Global maintains substantial management control, thereby giving it the ability to provide significant oversight and guidance in building value and creating liquidity events for its shareholders. Global invests in companies with solid management, operational excellence, and the potential to grow substantial revenue streams.
Please visit www.globaldevelopmentsinc.com for more information.
Forward-Looking Statements
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Global Developments, Inc. please refer to its Web site at http://www.globaldevelopmentsinc.com.