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Markland Technologies Announces Ex-Dividend Date for Dividend of Technest Holdings Common Stock
| Source: Markland Technologies, Inc.
WARWICK, RI -- (MARKET WIRE) -- April 20, 2007 -- Markland Technologies, Inc. (PINKSHEETS : MRKL ),
a company transforming advanced laboratory technology into real-world
products, has issued the following update on its planned dividend of shares
of Technest Holdings Inc. common stock:
As previously announced, the record date for the Company's distribution of
Technest common stock is April 25, 2007 and the payment date is May 4,
2007. Based on those dates, the NASD has established an ex-dividend date
of May 7, 2007.
The NASD's determination of the ex-dividend date can be found at the
following site:
http://www.otcbb.com/asp/dividend.asp?sym_id=MRKL&dDate=04/25/2007&sDateType=Record_date
The ex-dividend date is the date on or after which a security is traded
without the right to receive a specific dividend or distribution. Any
shares of Markland common stock outstanding on the record date that are
traded after the record date but before the ex-dividend date will be traded
with the right to receive the Technest dividend shares. Shares of Markland
common stock traded on or after the ex-dividend date shall be traded
without the right to receive any Technest dividend shares.
As previously announced, the distribution ratio for the special dividend is
.00515464 of a share of Technest common stock for each share of Markland
common stock. Accordingly, for every 194 shares of Markland common stock
outstanding at the close of business on the record date, one share of
Technest common stock will be issued. The aggregate number of shares of
Technest common stock that may be issued in the distribution (2,577,320
shares) was calculated by multiplying the number of shares of Markland
common stock outstanding of 500 million shares by the distribution ratio.
There will be no fractional shares of Technest common stock issued and all
share amounts to be distributed will be rounded down to the nearest whole
share. Holders of fewer than 194 shares of Markland common stock will
receive no shares of Technest common stock.
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy, nor shall there be any sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws
of any such state or jurisdiction. The distribution will be made only by
means of the written prospectus forming part of the effective registration
statement.
About Markland Technologies
Markland Technologies, Inc. is engaged in the identification of advanced
technologies currently under development in laboratories, universities and
in private industry, and in the transformation of those technologies into
next-generation products. Markland's solutions support military, law
enforcement and homeland security personnel to protect the nation's
citizens, borders and critical infrastructure assets from the threat of
terrorism and other dangers. Through strategic development, Markland
focuses on the creation of dual-use technology and products with
applications in both the defense market and civilian homeland security and
law enforcement fields. For more information about the company and its
products, please visit the Markland home page at
http://www.marklandtech.com.
"Forward-Looking Statements"
Investors are cautioned that certain statements contained in this press
release, including those related to the issuance of Technest dividend
shares, as well as some statements in periodic press releases and some oral
statements of Markland Technologies officers and directors during
presentations about Markland Technologies, are "forward-looking" statements
within the meaning of the Private Securities Litigation Reform Act of 1995
(the "Act"). Forward-looking statements include statements which are
predictive in nature, which depend upon or refer to future events or
conditions, which include words such as "expects," "anticipates,"
"intends," "plans," "believes," "estimates," or similar expressions. In
addition, any statements concerning future financial performance (including
future revenues, earnings or growth rates), ongoing business strategies or
prospects, and possible future actions, which may be provided by
management, are also forward-looking statements as defined by the Act. Some
of the factors that could significantly impact the forward-looking
statements in this press release include, but are not limited to, the
timing of the effectiveness of the registration statement covering the
issuance of the Technest dividend shares and the related payout and
ex-dividend dates. Forward-looking statements are based upon current
expectations and projections about future events and are subject to risks,
uncertainties, and assumptions about Markland Technologies, its products,
economic and market factors and the industries in which Markland
Technologies does business, among other things. These statements are not
guarantees of future performance and Markland Technologies has no specific
intention to update these statements. More detailed information about those
factors is contained in Markland Technologies filings with the Securities
and Exchange Commission. http://www.sec.gov.