Company Renamed UMC, Inc.
PAMPA, Texas, Sept. 11 /PRNewswire-FirstCall/ -- UMC, Inc. (formerly United Medicorp, Inc.) announced that, at its Special Meeting of Stockholders held May 15, 2007 in Dallas, Texas, shareholders approved the official change of the Company's name to UMC, Inc. Shares of UMC, Inc. began trading on the Pinksheets under its new symbol "UMCN" on September 10, 2007.
In addition, the Company announced that all other proposals voted on at the special meeting of stockholders were also approved by a majority of the shareholders. The approved proposals were to increase in the number of authorized common shares; to eliminate the authorized preferred stock; to create a share repurchase program; and, to ratify and approve agreements and financial transactions with Stevens Financial Group, L.L.C.
The name change became effective on May 15, 2007 upon the filing of an amendment to the company's Articles of Incorporation with the Secretary of State in the state of Delaware where the company is incorporated.
About UMC, Inc.
UMC, Inc., through its affiliates, provides outsourced receivables management and related services to healthcare providers. It also engages in the purchase, collection, and management of portfolios of delinquent and non-performing self-pay medical accounts. For more information visit http://www.umcinc.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause UMC, Inc.'s performance to differ materially. Such risks include, without limitation: changes in trends in the financial services industry; our ability to compete successfully with competitors in the market; our ability to maintain client contracts or to enter into new contracts; uncertainties related to future incentive payments; and, our ability to operate successfully in new lines of business.
CONTACT: Investors, Danniel Stevens, Interim CEO, 806.669.9223
|SOURCE UMC, Inc.|
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