LONDON, Jan. 3, 2011 (GLOBE NEWSWIRE) -- Cloud Centric Systems, Inc. (Pink Sheets:CLDR) CEO, David Lovatt announces today that the Transfer Agent has confirmed receipt of the Officer's Share Certificates and has started the work of reducing the Issued Share Capital.
"Our program of increasing shareholder value is continuing along the plan set out in the President's letter of December 2010," stated Lovatt. "Today, the Transfer Agent has confirmed receipt of the Officer's share certificates with a total of 1.1bn common shares being taken out of the Issued Share Capital."
"There is some small amount of paperwork to complete the transaction and comply with all governing regulations surrounding this matter, but the certificates are now in the hands of the Transfer Agent and 1.1bn shares will have been retired by the end of this week," continued Lovatt, CEO of Cloud Centric Systems, Inc.
Cloud Centric Systems recently announced that the company had reduced the Authorized Share Capital to 3bn and this would be effective as of 10th January 2011.
About Cloud Centric Systems: Cloud Centric Systems specializes in cloud based technologies that use the Internet to deliver business critical applications via a global network of partners. Cloud Centric Systems plans to grow via strategic acquisition over the coming 12 months as well as strong sales through its subsidiaries Cloud Centric Systems (UK) Ltd and VizualMobile Ltd.
For more information, please visit: www.cloudcentricsystems.com
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.