China Digital Communication Group Announces 10-for-1 Reverse Stock Split and Ticker...

Fri Jul 10, 2009 4:45pm EDT
 
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China Digital Communication Group Announces 10-for-1 Reverse Stock Split and
Ticker Change to CMTP
Reverse Stock Split and New Ticker to Take Place July 13, 2009

NEW YORK and SHENZHEN, China, July 10 /PRNewswire-Asia-FirstCall/ -- China
Digital Communication Group (OTC Bulletin Board: CHID), a manufacturer of
battery components in China, announced today its 10-for-1 reverse stock split
is to take place on Monday, July 13, 2009.
    In connection with the stock split, China Digital Communication Group's
trading symbol as quoted on the OTC Bulletin Board will be changed from
(OTCBB:
CHID) to (OTCBB: CMTP). The reverse stock split was previously announced by
China Digital Communication Group in its filings with the SEC and was approved
by its Board of Directors and a majority shareholder of approximately 50.39%
of capital stock on April 30, 2009.
    Every ten shares of China Digital Communication Group common stock will be
automatically converted into one share. In connection with the reverse split,
the China Digital Communication Group common stock will trade under the new
CUSIP No. 169381209.
    Fractional shares of stock will not be issued as a result of the reverse
split. Stockholders who would otherwise receive a fractional share of China
Digital Communication Group common stock will be entitled to receive an
equivalent amount of cash in lieu of fractional shares, based on the average
daily closing price per share of the common stock on the OTC Bulletin Board
for the 10 consecutive trading days ending on July 13, 2009.
    About China Digital Communication Group
    China Digital Communication Group, through its wholly owned subsidiary,
Shenzhen E'Jenie Science and Technology Co., Ltd. (E'Jenie), is one of China's
leading manufacturers and developers of advanced telecommunications equipment.
E'Jenie sells advanced high-quality lithium-ion battery shell and cap products
to all major lithium-ion battery cell manufacturers in China. E'Jenie's
products are used to power mobile phones, MP3 players, laptops, digital
cameras, PDAs, camera recorders and other consumer electronic digital devices.
China Digital Communication Group is continuing its expansion across East
Asia,
while seeking distribution partners and acquisitions in new global markets,
including the U.S.
    For more information, please visit:
http://www.chinadigitalcommunication.com


    Forward-looking statement: Except for the historical information, the
matters discussed in this news release may contain forward-looking statements,
including, but not limited to, factors relating to future sales. These
forward-looking statements may involve a number of risks and uncertainties.
Actual results may differ materially based on a number of factors, including,
but not limited to, uncertainties in product demand, risks related to doing
business in China, the impact of competitive products and pricing, changing
economic conditions around the world, release and sales of new products and
other risk factors detailed in the company's most recent annual report and
other filings with the Securities and Exchange Commission.
    For more information, please contact:

    China Digital Communication Group
     Ken Lin
     Tel:   +1-917-573-0302
     Email: ken@chinadigitalcommunication.com

    China America Financial Communications Group
     Darren Minton
     Tel:   +1-212-823-0523
     Email: chinadigital@cafcg.com

SOURCE  China Digital Communication Group

China Digital Communication Group, Ken Lin, +1-917-573-0302, or
ken@chinadigitalcommunication.com; or China America Financial Communications
Group, Darren Minton, +1-212-823-0523, or chinadigital@cafcg.com

 

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