DGAP-News: CerMed International Inc.: CerMed International announces a Board of Directors' Action
ID: 443121
CerMed International Inc.: CerMed International announces a Board of
Directors' Action
19.07.2011 / 09:10
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FOR IMMEDIATE RELEASE
CONTACT
CerMed International
(831) 920 2275 (o)
info@cermedint.com
www.cermedint.com
CerMed International announces a Board of Directors' Action
Monterey, CA - July 18, 2011 - CerMed International, a women's healthcare
medical device company, today announced a decision of the Board of
Directors to resolve an electronic shares situation that is negatively
impacting the Company's share price. A portion of cancelled shares that
are in electronic format are still being sold into the market even though
they have been cancelled, and the Board of Directors has approved the
following actions taken by the Company based on advice of our financial
advisors and legal counsel.
CerMed has sought and obtained shareholder approval for a reverse stock
split, which will be followed by a stock dividend to shareholders in good
standing. The net result of this action is that (i) all shareholders of
record and in good standing as of July 13, 2011 will receive the exact
number of new shares that were originally held, and (ii) the unauthorized
cancelled electronic shares will be eliminated.
CerMed will immediately file the appropriate documents in Canada and
Germany to finalize implementation of the reverse stock split.
CerMed will also take this opportunity to change its stock trading symbol
to 'CERM' or similar, to reflect the Company's name and corporate identity.
Additional details about the effective date of the Company's new stock
symbol and other related data will be set forth in a press release promptly
after such items are completed.
About CerMed International
CerMed International, Inc. is an emerging global medical device company
that develops products and systems that help improve the health of women
worldwide. These lower cost products will aid in reducing the risk of
female reproductive diseases. They will enable women's health initiatives
to be brought to the underserved regions of the world and empower women to
personally take steps to reduce the risk of HIV and other STD's.
Forward Looking Statements Related to CerMed International
This press release contains forward-looking statements. Forward-looking
statements involve risks and uncertainties that could cause actual results
or experience to differ materially from that expressed or implied by the
forward-looking statements. Some of these risks and uncertainties include,
but are not limited to, (1) the economic circumstances surrounding CerMed's
business, including general economic conditions worldwide; (2) competitive
pressures and developments; (3) applicable laws and regulations; (4) the
success or failure of product development programs; (5) actions of
regulatory authorities and the timing thereof; (6) changes in exchange
rates; (7) claims or concerns regarding the safety or efficacy of marketed
products or product candidates in development; and (8) integration
activities with acquired companies.
The forward-looking statements contained in this press release speak only
as of the date of this press release, and CerMed undertakes no obligation
to revise or update any forward-looking statements toreflect new
information, future events or circumstances after the date of the
forward-looking statement. If CerMed does update or correct one or more of
these statements, investors and others should not conclude that CerMed will
make additional updates or corrections
For information: http://www.cermedint.com
Contact: info@cermedint.com
Phone: 831-920-2275
End of Corporate News
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132443 19.07.2011Unternehmensinformation / Kurzprofil:
Datum: 19.07.2011 - 09:10 Uhr
Sprache: Deutsch
News-ID 443121
Anzahl Zeichen: 4862
Kontakt-Informationen:
Kategorie:
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