- 1 for 40 Split Effective at Close of Business Today
- VGNI Stock Symbol to Change to VRGE
PLANTATION, Fla., Sept. 4 /PRNewswire-FirstCall/ -- Viragen International, Inc. (OTC Bulletin Board: VGNI), a majority-owned subsidiary of Viragen, Inc. (OTC Bulletin Board: VRAI), today announced that a one for forty (1:40) reverse stock split of its issued and outstanding common stock will become effective at the close of business today, September 4, 2007.
The reverse stock split was first announced on June 29, 2007. The action was approved by Viragen International's Board of Directors and the holder of a majority of its outstanding voting securities as described in its definitive Information Statement on Schedule 14C filed with the Securities and Exchange Commission on August 12, 2007.
Effective with the reverse stock split, the trading symbol on the OTC Bulletin Board for Viragen International's common stock will change to "VRGE", and the new CUSIP number for its common stock will be 927637306. Any fractional shares which might result from the reverse split will be rounded up to the nearest whole share. The common stock will be quoted on the OTC Bulletin Board post-split at market open on Wednesday, September 5, 2007.
There will be a mandatory exchange of certificates following the effective time of the reverse stock split. Stockholders will not be charged for the issuance of a new stock certificate reflecting the post-split shares and new CUSIP number.
As soon as practicable, Viragen International will send a letter of
transmittal to each holder of record of pre-split shares outstanding on the
effective time of the reverse stock split which will contain instructions
for the surrender of certificates representing the pre-split shares. Upon
proper completion and execution of the letter of transmittal and return
thereof, together with certificates representing pre-split shares, a
stockholder will be entitled
|SOURCE Viragen International, Inc.|
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