AngelCiti to Offer Additional Shares to Shareholders
Online software licensor plans additional stock dividend in Midas Entertainment
Friday 27th May 2005
AngelCiti Entertainment has announced that management has decided to dividend out additional shares in Midas Entertainment to shareholders in order to allow them the added benefit of direct share ownership in the meteoric growth of the online poker industry.
The dividend will be one share of Midas Entertainment for every seven shares of AngelCiti owned by a shareholder. The record date will be set within the next few weeks. Midas was spun off from AngelCiti in July 2004 and AngelCiti retains a stake in Midas of over 3.1 million shares. AngelCiti anticipates that it will continue to own over 2.1 million shares in Midas after the dividend payout.
'We have received a tremendous amount of positive feedback from the shareholders after the initial dividend and wanted to reward our shareholders for their continued belief in the ongoing development of our company,” stated George Guiterrez, president of AngelCiti Entertainment. “This is a unique opportunity for our shareholders to own a position in two companies with high growth and return potential in a very hot segment of the market.'
Poker's tremendous growth and attraction has been evidenced by such shows as Celebrity Poker and the Travel Channel's World Poker Tour series, which has been a huge ratings success. NBC has recently begun televising poker events as well. Last year's World Series of Poker champion walked away with a world record prize of over $5 million, out of $49 million in total prizes, more than double the prize values awarded in 2003. The 2003 champion also earned his seat by winning an online tournament.