SOURCE: Madison Bay Holdings, Inc.

December 04, 2009 19:52 ET

Madison Bay Holdings, Inc. Announces Reverse Stock Split of 1000 to 1

SEATTLE, WA--(Marketwire - December 4, 2009) - Madison Bay Holdings, Inc. (PINKSHEETS: MDBH), a holding company engaged in the acquisition and merger of Boat manufacturers and Recreational Vehicle manufacturers, held a special meeting of the Board of Directors of Madison Bay Holdings, Inc., a Utah corporation, on December 3, 2009, approving a reverse stock split of 1000 to 1 of the common shares of the (MDBH) company.

The common stock of the company shall be a reverse split as of the date hereof, December 3, 2009, so that for each One Thousand (1,000) shares of common stock of the Company as of December 3, 2009, the shareholder shall receive One (1) share. There is no change in the par value or other rights of the shareholders. The Transfer Agent, Holladay Stock Transfer has been directed to demand and receive all certificates and issue new certificates in the ordinary course of business. The company has filed the Reverse notification with FINRA.

After giving effect to the reverse split, the Company will have approximately 212,001 common shares outstanding. The reverse split will affect all common shares of MDBH common stock, including those shares underlying stock options, warrants and convertible debentures outstanding immediately prior to the effective date of the reverse split.

About Madison Bay Holdings, Inc.

Madison Bay Holdings, Inc. is a marketer and distributor of Recreational Vehicles, Powerboats and Leisure Watercraft. The Company owns all equipment, designs and trademarks of Summit Coaches, the Recreational Vehicle (RV) division that specializes in manufacturing, marketing and selling upscale and feature-oriented RV trailers.

Safe Harbor statement under the private Securities Litigation reform Act of 1995

This news release contains forward-looking statements, including statements regarding the Company's expectations about successfully selling its products and about the positive effects of the acquisition described herein. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of our products, the loss of any key personnel, our inability to introduce new products that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of potential litigation, and the possibility that competitors could develop or acquire technology that could erode the Company's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.

Contact Information

  • Contact:

    Ricardo Ruelos
    Chairman and CEO
    Phone (206) 932-9488