Generex Informs Stockholders Of Minimum Exchange Ratio For Reverse Stock Split Proposal To Be Considered At The Special Meeting Of Stockholders On September 17, 2010
WORCESTER, Mass., Aug. 27, 2010 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (Nasdaq:GNBT) ( www.generex.com), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, today made available the following letter to stockholders relating to the special meeting to be held on September 17, 2010:
August 27, 2010
Dear Stockholder:We recently mailed you proxy materials for the special meeting of stockholders to be held on Friday, September 17, 2010 to consider the following items of business:
- To approve an amendment to our Restated Certificate of Incorporation (i) to effect a reverse stock split of our common stock, at an exchange ratio of not less than 1-for-2 and not more than 1-for-10 at any time prior to September 16, 2011 (the implementation of the reverse stock split, ratio and timing of which will be subject to the discretion of the Board of Directors), and (ii) following the reverse stock split, if implemented, to reduce the number of authorized shares of common stock from 750,000,000 to 500,000,000 unless the Board of Directors utilizes a ratio of not more than 1-for-2, in which case, the number of authorized shares of common stock will be maintained at 750,000,000.
- To approve the adjournment of the Generex special meeting, if necessary, to solicit additional proxies for the foregoing proposal; and
- To conduct any other business as may properly come before the Generex special meeting or any adjournment or postponement thereof.
- Page 1 – What are the items of business for the meeting?
- Page 2 – What if I return my proxy card but do not provide voting instructions?
- Page 4 – What am I voting on?
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