BUDAPEST, HUNGARY 11/23/11 -- Power of the Dream Ventures, Inc. (OTCBB: PWRV), Hungary's premier technology acquisition and development company, is pleased to annonce the record date of the previously announced iGlue common stock dividend.
The Board of Directors of the Company have unanimously voted to approve a special, one time dividend, payable in the form of iGlue common stock to shareholders of record of PWRV at the close of business on December 23, 2011, the Record Date.
Each share of PWRV held will receive 0.05 share of iGlue restricted common stock. In practical terms this means that the holder of every 10,000 share block of PWRV will receive 500 shares of iGlue common stock. This stock will be restricted as iGlue has not yet filed a registration statement. Restricted stock can not be sold for a minimum of six months.
The dividend will be paid on January 13th, 2012.
Power of the Dream Ventures currently holds 6,000,000 shares of iGlue common stock. After payment of the dividend PWRV will still retain approximately 2,584,000 shares of common stock and warrants to purchase an additional 3,000,000 shares of common stock.
"I believe iGlue is now well positioned to become the most significant player in the content organizer / curation / semantic search field. Given the recent acquisition of Apture by Google, iGlue is now the only independent contender to capitalize on this emerging market segment. The company will be announcing significant milestones in the coming months, which can translate to share price appreciation. With this dividend, we have now come full circle with PWRV, from finding a suitable company to financing it to commercialising it and finally monetizing on our investment, all the while enriching our shareholders as well. With the recently announced common to preferred stock conversion of Daniel Kun and myself, PWRV now has 38,300,000 shares of common stock issued and outstanding. This means that at a $1 dollar share price PWRV would only have a market cap of 38 million dollars," commented Viktor Rozsnyay, Chief Executive of Power of the Dream Ventures.
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit our website at Http://www.powerofthedream.com
At the Company:
President and CEO
US telephone: 1-646-499-4510 between 8AM and 1PM ET.
Source: Power of the Dream Ventures, Inc.