CARH Confirms 4-For-1 Share Split
24 August 2000
CARH Confirms 4-For-1 Share Split
Business Editors & Automotive WritersEL CAJON, Calif.--Aug. 24, 2000--Composite Automobile Research Ltd. (OTCBB:CARH)(POH: Frankfurt), through its wholly-owned subsidiary World Transport Authority Inc. (WTA), is pleased to announce the following, pursuant to the company's Special Shareholders Meeting held on Thursday June 1, 2000.
A resolution was passed unanimously to change the name of the company from that of Composite Automobile Research Ltd. to that of World Transport Authority Inc. Additionally a resolution was passed unanimously to approve a recordation date for a 4-for-1 forward split of the company's common shares, previously approved by the company's Board of Directors. The recordation for the split will be Aug. 31, 2000. WTA has executed all required administrative procedures to process these approved resolutions with the appropriate securities agencies. Therefore effective Sept. 1, 2000 the common shares of CARH will begin trading under the new name, World Transport Authority Inc. on a 4-new-for-1-old basis.
For shareholders that are holding their shares personally, please contact the company's Stock Transfer Company listed below for instructions on how to exchange your presently held shares of CARH for the new shares of World Transport Authority Inc. on the post-split basis. This can be done anytime after and including Sept. 1, 2000. For shareholders holding their shares in a brokerage account, the new shares of World Transport Authority Inc. will automatically show up in your account on a post-split basis on Sept. 1, 2000.
Pacific Corporate Trust Company
625 Howe Street, Suite 830
Vancouver, BC V6C 3B8
Canada
604/689-9853 Attn: Lisa Scotland
Composite Automobile Research Ltd. and World Transport Authority Inc. serve the emerging world's transportation needs through in-country manufacturing facilities, utilizing local semi-skilled labor to produce the WorldStar line of utility vehicles.
This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. Please refer to the WTA Web site www.WTAWorldstar.com and other sources for more detailed information. Investor Relations is at 619/387-8888.