LOS ANGELES, CA--(Marketwire - Feb 21, 2013) - Truli Media Group, Inc. (OTCQB: TRLI), owner and operator of faith-based & family media content platform and social community hub Truli.Net, today announced that its Board of Directors has approved a one share dividend for each five share of common stock of the Company, resulting in a total of six shares for each five shares of common stock issued and outstanding prior to the dividend.
The record date for the stock dividend will be February 25, 2013 with the payment date and the ex-date to be announced upon completion of the FINRA process but anticipated to be shortly thereafter. Truli's transfer agent will begin mailing new stock certificates to effectuate the dividend at such time. Any fractional shares issuable pursuant to the dividend will be rounded up to the next whole share.
Truli will have approximately 83,651,000 shares outstanding upon completion of the share dividend. Michael Solomon commented, "Since Truli media became public, the initial shareholders investing in the company have been very supportive and deserve some additional financial benefit for sharing our company's vision. A stock dividend should give our shareholders the additional economic benefit justified by their actions to date and show them our appreciation for their financial commitment."
Truli.com offers a unique distribution platform focused on Christian and family-friendly content that is free for users to view, interact and engage with on any mobile apparatus such as tablets, phones, smart TV, etc. Truli.com is free for ministries, as thousands of sermons are delivered weekly, as well as individuals, music videos, authors, film/television producers and educators seeking to gain visibility and provide their content in a targeted and relevant community linked by a shared belief. Truli offers a single platform that is flexible and easy to access to connect users, enabling the delivery of relevant content to the Evangelical community market of 100+ million people in the U.S. (and 700+ million outside the U.S.) representing $4.3 billion of annual gross industry sales in the U.S. alone.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.