Navigation Links
SyntheMed, Inc. Adopts Shareholder Rights Plan
Date:5/20/2008

ISELIN, N.J., May 20 /PRNewswire-FirstCall/ -- SyntheMed, Inc. (OTC Bulletin Board: SYMD) announced today that its Board of Directors approved the adoption of a shareholder rights plan. The shareholder rights plan is designed to ensure that shareholders realize fair value and equal treatment in the event of an attempted takeover of the company and to protect the company and its shareholders against coercive takeover tactics. The plan was not approved for adoption as a result of any specific takeover attempt.

To implement the shareholder rights plan, the Board of Directors has declared a dividend distribution of one right for each share of SyntheMed common stock outstanding as of the close of business on June 2, 2008. Initially, the rights will be represented by SyntheMed common stock certificates, will not be traded separately from the common stock and will not be exercisable. The rights generally will become exercisable following any person becoming an "acquiring person" by acquiring, or commencing a tender offer to acquire, beneficial ownership of 15% or more of the outstanding shares of SyntheMed common stock. If a person becomes an "acquiring person," each holder of a right, other than the acquirer, would be entitled to receive, upon payment of the then purchase price, a number of shares of SyntheMed common stock or other securities having a value equal to twice the purchase price. If SyntheMed is acquired in a merger or other business combination transaction after any such event, each holder of a right, other than the acquirer, would be entitled to receive, upon payment of the then purchase price, shares of the acquiring company having a value equal to twice the purchase price. The rights are scheduled to expire on June 2, 2018 unless earlier redeemed, terminated or exchanged in accordance with the terms of the shareholder rights plan.

In connection with the adoption of the rights plan, a committee of the Board of Directors comprised of independent directors is to review the rights plan at least once every three years to determine whether maintaining the rights plan continues to be in the best interests of the company and its stockholders.

The rights plan and the terms of the rights are governed by a rights agreement dated May 20, 2008 between SyntheMed and its transfer agent. The foregoing description of the rights plan does not purport to be complete and is qualified in its entirety by reference to the full text of the rights agreement, which will be filed with the Securities and Exchange Commission.

About SyntheMed, Inc.

SyntheMed, Inc. is a biomaterials company engaged in the development and commercialization of anti-adhesion products, drug delivery products and other surgical implants. The company is primarily focused on the advancement and expansion of product development programs based on its proprietary bioresorbable polymer technology.

Statements in this Press Release that are not statements of historical fact, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Reference is made to the Company's Annual Report on Form 10-KSB for the year ended December 31, 2007 for a description of these, as well as other, risks and uncertainties.


'/>"/>
SOURCE SyntheMed, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Haemonetics Chairman and CEO Adopts 10b5-1 Stock Trading Plan
2. Virginias largest Cardiac Surgery program adopts SPY as standard of care
3. Edwards Lifesciences Chairman and CEO Adopts New 10b5-1 Stock Trading Plan to Replace Recently Expired Plan
4. Indiana Adopts Legislation to Combat Illegitimate Online Pharmacies, Protect Residents From Counterfeit Drugs
5. Weight Watchers COO Adopts 10b5-1 Trading Plan
6. Masimo Corporation Adopts Stockholder Rights Plan
7. APHA Adopts New Policies on Food Safety, Global Climate Change, Multidrug-Resistant Organisms, Breastfeeding and Feminine Hygiene
8. Texas Health and Human Services Commission Adopts Mediwares ClosedLoop(TM) Medication Management Strategy
9. Haemacure Adopts Strategy for "First-Patient-In" Fibrin Sealant Pivotal Clinical Trials
10. Aionex Adopts SkyeTeks Embedded RFID Solution to Ensure Patient Safety
11. Law Offices of Howard G. Smith Announces 24 Days Remaining to Move to Be a Lead Plaintiff in the Shareholder Lawsuit Against Inverness Medical Innovations, Inc.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... North Carolina (PRWEB) , ... June 26, 2016 , ... ... release of a new product that was developed to enhance the health of felines. ... for centuries. , The two main herbs in the PawPaws Cat Kidney Support ...
(Date:6/25/2016)... ... 25, 2016 , ... The temporary closing of Bruton Memorial Library on June 21 due to ... a new, often overlooked aspect of head lice: the parasite’s ability to live away from ... common occurrence, but a necessary one in the event that lice have simply gotten out ...
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of ... recognition of their exemplary accomplishments in worksite health promotion. , The Wellness at Work ... Symposium at the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses ...
(Date:6/24/2016)... ... 2016 , ... Marcy was in a crisis. Her son James, eight, was out of control. ... and physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. ... rocks at my other children and say he was going to kill them. If ...
(Date:6/24/2016)... ... ... makers of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair Minimum ... by 2020 and then adjusting it yearly to increase at the same rate as the ... wage floor does not erode again, and make future increases more predictable. , The company ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... 2016 Research and Markets has announced ... Diagnostic Tests" report to their offering. ... The World Market for Companion Diagnostics covers ... Market analysis in the report includes the following: ... Diagnostic Kits) by Region (N. America, EU, ROW), 2015-2020 ...
(Date:6/24/2016)... , June 24, 2016   Pulmatrix, Inc ., ... developing innovative inhaled drugs, announced today that it was ... Investments reconstituted its comprehensive set of U.S. and ... "This is an important milestone for Pulmatrix," said Chief ... shareholder awareness of our progress in developing drugs for ...
(Date:6/24/2016)... KNOXVILLE, Tenn. , June 24, 2016 /PRNewswire/ ... market providing less invasive and more durable cerebrospinal ... million in funding.  The Series-A funding is led ... the Lighthouse Fund, and other private investors.  Arkis, ... less-invasive neurosurgical instrumentation and the market release of ...
Breaking Medicine Technology: