JUPITER Global Holdings, Corp. Announces Plan to Reward Its Shareholders With a Stock Dividend in Global Bancorp, Inc. Common Stock
LAS VEGAS, NV - MARKET WIRE - 06/15/05
JUPITER Global Holdings, Corp. ("JUPITER" or the "Company") (OTC BB: JPHCE) today proudly announces it will execute a plan to dividend the stock it will receive in Global Bancorp, Inc., a publicly traded Pink Sheet company (OTC: GBBI), due to the in-progress restructuring of VOXBOX, whereby GBBI currently owns 50% of VOXBOX and GBBI is buying the 50% equity interest JUPITER holds in VOXBOX.
JUPITER is planned to receive between 3,500,000 to 5,000,000 common shares of GBBI which it will dividend all or part to its shareholders on a reasonable prorated basis.
All shareholders of JUPITER stock as of the record date will be entitled to receive the dividend. The ratio and dividend record date will be declared upon completion of the restructuring which is expected to be complete within approximately the next two weeks. The ratio for the dividend will be determined by the Company and a notice of the ratio and any subsequent information and instructions will be provided to the shareholders accordingly.
As part of the previously announced restructuring plan, Global Bancorp, Inc. will be changing its business direction to the VOXBOX business plan and change its name to VOXBOX World Telecom by absorbing the equity stake that JUPITER owns in VOXBOX Telecom, Inc. This restructuring will effectively turn VOXBOX into a publicly traded company.
Ray Hawkins, CEO of JUPITER, commented: "We have had numerous shareholders that have been patient with the Company's developments. Our holding company structure coupled with a plan to acquire and develop business, spin them out under various strategies and provide benefits such as dividends is a something we feel is a great reward for our shareholders' loyalty and their long-term thinking approach."
ABOUT VOXBOX (VOXBOX Telecom Inc.)
VOXBOX (www.myVOXBOX.com) is an exciting new service in the multi-billion-dollar VoIP market. The Company owns 50% of the VOXBOX service and expects VOXBOX to be a quality contributor for its 2005 growth plans. The Company is implementing a restructuring currently of VOXBOX with its joint venture partner, Global Bancorp, Inc., a publicly traded company on the Pink Sheets, which will enable Global Bancorp, Inc. to change its business to absorb the VOXBOX business and name.
VOXBOX allows you to make telephone calls using the Internet. When placing a VoIP call using a phone with a VOXBOX adapter, you'll hear a dial tone and dial just as you always have. Voice over IP converts the voice signal from your telephone into a digital signal that travels over the Internet then converts it back at the other end so you can speak to anyone with a regular phone number.
Voice over Internet Protocol (VoIP), is a technology that allows you to make telephone calls using a broadband Internet connection instead of a regular (or analog) phone line. Further information on how VoIP works can be found at www.fcc.gov/voip/.
ABOUT GLOBAL BANCORP, INC.
Global Bancorp Inc. (OTC: GBBI) is a Nevada-based corporation with operations in British Columbia. The Company's mission is to develop or acquire, manage, and fund potentially high-growth emerging digital media technology companies. Global Bancorp shares are traded on the Pink Sheet market in the United States. Global Bancorp is delivering a unique suite of "Digital Lifestyle Products," consisting of Voice over Internet (VoIP), Broadband Internet, Compressed Data Delivery and Video-on-Demand (VOD).
ABOUT JUPITER GLOBAL HOLDINGS, CORP.
JUPITER Global Holdings, Corp. is a holding company with interests and developments in a diverse number of growing industries such as the VoIP telecom industry, promotional marketing industry and entertainment industry. JUPITER plans to achieve a leadership position through the building of a synergistic network of innovative, profitable and global businesses.
Statements contained herein that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. JUPITER Global Holdings, Corp. intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause JUPITER Global Holdings, Corp. actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in JUPITER Global Holdings, Corp. applicable public filings on record with the Securities and Exchange Commission which can be viewed at its website at www.sec.gov.
Please visit our website: www.jupiterglobal.net
