SOURCE: TimeShare Holdings

January 05, 2011 16:22 ET

TimeShare Holdings, Inc. Announces That Its Board of Directors Have Authorized a Reduction of Authorized Shares

LAS VEGAS, NV--(Marketwire - January 5, 2011) - TimeShare Holdings, Inc. (OTCBB: TMSH) The Board of Directors authorized a reduction of Authorized Shares from 300,000,000 to 175,000,000 effective January 1, 2011.  This reduction should be reflected on the State of Nevada website in 3-5 business days.

The Board also approved the acquisition of the Research and Development Division of Global Renewable Energy Systems Inc. effective January 1, 2011. The R & D Division is acquired as a wholly owned subsidiary of TimeShare Holdings, Inc. and is renamed to Renewable Energy R&D. The R&D group will be under the direction of Doug Johnson and is expected to continue scientific and technology research, development, and support of the current and future renewable energy projects.

The Board also approved the acquisition of Native American Consulting LLC effective January 1, 2011 which will be renamed to Native American Consulting and will become a wholly owned subsidiary of TimeShare Holdings, Inc. Native American Consulting will be under the direction of Kent Strickler and will continue to development renewable energy projects on Tribal Reservation Lands as well as projects internationally. Mr. Strickler is an enrolled Tribal member of the Confederated Tribes of Siletz Indians of Oregon.

Native American Consulting, with the approval of TimeShare Holdings, Inc. Board, has acquired from Global Renewable Energy Systems Inc. the executed contract dated October 7, 2010 for a turn key 60 MegaWatt Photovoltaic Solar Park to be constructed in the country of Bulgaria. Construction is scheduled to begin in the spring of 2011. More information will be available when negotiations to terminate the confidentiality agreements are concluded.

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