STGA will affect a 1 to 45 common stock reverse stock split effective for shareholders of record as of 5:00 p.
STGA shall issue its Series "A" common stock purchase warrants to its shareholders of record 5:00 p.
a wholly-owned subsidiary of STGA, will be issued to STGA shareholders proportionate to their share ownership in a spin-off transaction to STGA shareholders of record as of 5:00 p.
Subject to and upon completion of the transactions described herein, STGA shareholders will own common shares and common stock purchase warrants in STGA as well as in Saratoga Telecom.
No action by STGA shareholders is required for the above mentioned restructuring transactions.
Further information regarding Saratoga Telecom will be published following the date scheduled for closing the Agreement between STGA and Fortune.