KleenAir Announces 2-for-1 Stock Split
29 February 2000
KleenAir Announces 2-for-1 Stock Split
NEWPORT BEACH, Calif.--Feb. 29, 2000--KleenAir Systems Inc. (OTC BB:KAIR) Tuesday announced that its board of directors has approved a 2-for-1 forward split of the company's common stock for shareholders of record at the close of business on March 15, 2000.The company will accomplish this by issuing a 100% stock dividend to such shareholders. The distribution date for the stock dividend has been set for the opening of business on March 20. This stock dividend will increase the number of shares in the public float and assist in maintaining trading liquidity.
The company is in the business of developing NOx reduction systems for the automotive market, together with appropriate catalytic converters designed to operate effectively with the company's patented products.
KleenAir has a unique computer controlled ammonia system, the NOxMaster(TM), which, when injected into the exhaust stream, interacts with NOx produced during combustion. The result converts environmentally hazardous NOx into harmless nitrogen and water.
The company's technology works with gasoline, diesel, CNG and LPG fuels to reduce whatever levels of NOx are generated by the combustion of these fuels. Current EPA and California Air Resources Board attention is focusing on environmental pollution resulting from the use of diesel fuels.
Safe Harbor Act Disclaimer
The statements contained in this release and statements that the company may make orally in connection with this release are not historical fact and are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. Actual results may differ materially from those forward-looking statements, as such statements involve risks and uncertainties that could significantly impact the company's business and the actual outcome and results may differ materially.