BIHC

Selling off it's subsidiary Baron International for .19-.23/share and gonna issue a .07-.09 cash dividend. I can't find # of outstanding shares anywhere????? Should at least give the company some positive cash flow and the dividend will be welcomed by most.


Here's the story, anyone have any thoughts on what this will do to the share price???????




BIH Corporation Releases Estimated Baron International Acquisition Numbers
08:58 a.m. 06/26/2008
Provided By Market Wire
WEST ORANGE, NJ, Jun 26, 2008 (MARKET WIRE via COMTEX) -- BIH Corporation (PINKSHEETS: BIHC) announced today that its Board of Directors as previously announced has agreed to a buyout of its subsidiary Baron International, Inc.
The Company believes that its shareholders are entitled to an estimate of the pending agreement. The pending agreement is subject to a contractual due diligence period with a sales price already negotiated; the sales price is between 0.19 and 0.23 cents per share. The acquiring party has a 5 day due diligence period of which to accept or to decline the agreed upon acquisition price contractually.
The Company has already determined that if the above-mentioned occurs, it will pay a one time cash dividend of between 0.07 and 0.09 cents per share as recommended by its attorneys and accountants (for tax purposes) to each and every shareholder on the record date, to be determined upon the acceptance and executed acquisition agreement.
"Mr. Galo apologizes for the lack of direct contact with the company's shareholders as these negotiations not only have come out of the blue but they have taken up every minute of his time; Mr. Galo has expressed his desire to either complete this deal or to get back to business. Mr. Galo has made it perfectly clear if this unsolicited offer does not meet or benefit The Company and its Shareholders monetarily, it will not happen," said Frank Nordstrom, spokesman for BIH Corporation