PerfectData to Distribute Shares of Internet Firm

PerfectData Corp. of Simi Valley has announced that it will distribute one share of Starnet Universe Internet stock for each 20 shares of PerfectData held by a shareholder.

Fractional shares will be paid out at $4 per share. The distribution will be made July 18 to shareholders of record on July 2.

The distribution of shares will be in the form of a dividend to PerfectData shareholders. PerfectData currently owns 2,155,000 shares of Starnet. After the distribution, PerfectData will continue to hold more than 2 million shares.

PerfectData acquired Starnet last summer.

Starnet Universe was formed to conduct commerce on the Internet. The company is developing proprietary software for its wholly owned sites “PerfecTrade” and “Office Warehouse.”

PerfectData designs and markets computer, office care and maintenance products and accessories. The products are designed to eliminate or minimize contamination in and around computers and office automation equipment and to enhance user performance.