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UPDA Board Approves Spin Off to Shareholders - One Share of Continental Fuels, Inc. Subsidiary to be Distributed for Every 50 Shares of UPDA.

Publication: Business Wire
Publication Date: 27-JUN-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
JUNO BEACH, Fla. -- The Board of Directors of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1), has approved a resolution to spin off a portion of its holdings in Continental Fuels, Inc. (OTCBB:CFUL) (FWB:CNDI) (GER:CNDI) (BCN:CNDI) to UPDA's common stockholders of record on July 11, 2007, the second anniversary of UPDA's launch as an energy development...

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