SOURCE: Family Entertainment Corporation

September 09, 2008 13:43 ET

Family Entertainment Corporation Announces the Spin-Off of Prestige Cars International, Ft. Lauderdale, Florida and "Shareholders of Record" Date for Stock Dividend

BOCA RATON, FL--(Marketwire - September 9, 2008) - Family Entertainment Corporation (PINKSHEETS: FMLE) (the "Corporation") announced that its Board of Directors has approved a plan to spin-off its subsidiary, Prestige Cars International, Inc. ("PCI"), Ft. Lauderdale, Florida, by September 30, 2008. FMLE shareholders of record as of September 30, 2008 will receive shares of common stock in PCI as a common stock dividend upon completion of its spin-off from the Corporation. The formula for the number of shares to be issued under the dividend is one (1) for ten (10), with no shareholder receiving less than one thousand (1000) shares of ASAP, and fractional shares rounded up to the next highest share.

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.

Contact Information

  • Contact:
    Family Entertainment Corporation
    561-962-4197