Orient Paper, Inc. Effects a One-For-Four Reverse Stock Split
BAODING, China, Nov. 5 /PRNewswire-Asia-FirstCall/ -- Orient Paper, Inc.
(OTC Bulletin Board: ORPN) ("Orient Paper" or the "Company"), which controls
and operates Hebei Baoding Orient Paper Milling Co., Ltd. ("HBOP"), a leading
manufacturer and distributor of diversified paper products in Hebei, China,
today announced that the Company has effected a one-for-four reverse split of
the Company's common stock and traded on the Over the Counter Bulletin Board
under the new ticker symbol "ORPN.OB" effective at the open of the market on
November 5, 2009, so that every four shares of common stock before the reverse
stock split represent one share of common stock after the reverse stock split.
As a result of the reverse split, the Company now has approximately 14,579,420
shares of common stock issued and outstanding.
About Orient Paper, Inc.
Orient Paper, Inc., through its wholly owned subsidiaries, Shengde
Holdings, Inc. and Baoding Shengde Paper Co., Ltd., controls and operates
Hebei Baoding Orient Paper Milling Co., Ltd ("HBOP"). Founded in 1996, HBOP is
engaged in the production and distribution of products such as corrugated
paper, offset paper, writing paper, and other paper and packaging-related
products in China. The Company uses recycled paper as its primary raw material.
As one of the largest paper producers in Hebei Province, China, the Company is
strategically located in Baoding, a city in close proximity to Beijing where
the majority of publishing houses are based. Orient Paper is led by an
experienced management team committed to diversifying the Company's product
offering and delivering tailored services to its customers. For more
information, please visit http://www.orientalpapercorporation.com .
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact in this
announcement are forward-looking statements, including but not limited to, the
availability of funds and working capital to finance its activities; the
actions and initiatives of current and potential competitors; the Company's
ability to introduce new products; market acceptance of new products; general
economic and business conditions; the ability to attract or retain qualified
senior management personnel and research and development staff; and other
risks detailed in the Company's filings with the Securities and Exchange
Commission. These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations, assumptions,
estimates and projections about the companies and the industry. The Company
undertakes no obligation to update forward-looking statements to reflect
subsequent occurring events or circumstances, or to changes in its
expectations, except as may be required by law. Although the Company believes
that the expectations expressed in these forward looking statements are
reasonable, it cannot assure you that its expectations will turn out to be
correct, and investors are cautioned that actual results may differ materially
from the anticipated results.
