Navigation Links
WorldHeart Announces Effectiveness of Reverse Stock Split
Date:10/29/2008

OAKLAND, Calif., Oct. 29 /PRNewswire-FirstCall/ -- (Nasdaq: WHRTD) -- World Heart Corporation (WorldHeart or the Company), effected a reverse stock split of 30-to-1 after filing of articles of amendment with Industry Canada under the Canada Business Corporations Act and commenced trading on the NASDAQ Capital Market on a post-consolidation basis on October 28, 2008. The Corporation's shareholders approved the proposal for a reverse stock split at a Special Meeting of Shareholders held on October 9, 2008 and the Board of Directors determined to implement the reverse stock split at a 30-to-1 ratio. Completion of the reverse split is intended to allow WorldHeart to keep its listing on the NASDAQ Capital Market, subject to continued compliance with all of the other listing requirements.

The Company's common shares began trading on the NASDAQ Capital Market on a post-consolidation basis (every thirty common shares of WorldHeart combined into one common share) as of the opening of trading on October 28, 2008 under the symbol "WHRTD" and under a new CUSIP number 980905400. The symbol "WHRTD" will remain in effect until November 25, 2008 and subsequently will resume trading under the symbol "WHRT". The reverse stock split will not affect the ownership of option and warrant holders. Upon the exercise of any options or warrants, resulting shares issued will be issued on a post-consolidation basis. No scrip or fractional certificates will be issued in connection with the reverse stock split. Shareholders who otherwise would be entitled to receive fractional shares because they hold a number of common shares not evenly divisible by thirty will not be entitled to cash compensation and such holders will lose any entitlement to such fractional shares upon surrender of certificate(s) representing such shares.

Registered shareholders of WorldHeart who hold existing physical stock certificates will receive a letter of transmittal from WorldHeart's transfer agent, CIBC Mellon Trust Company, containing instructions on how to receive new share certificates. Shareholders whose certificates are held in "street name" or on deposit with their brokerage firm will need to take no further action.

About World Heart Corporation

WorldHeart is a developer of mechanical circulatory support systems. WorldHeart is headquartered in Oakland, California, USA with additional facilities in Salt Lake City, Utah and Herkenbosch, The Netherlands. WorldHeart's registered office is in Ottawa, Ontario, Canada.

Any forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include all statements regarding WorldHeart's ability to regain compliance with the Nasdaq Capital Market listing requirements, as well as other statements that can be identified by the use of forward-looking language, such as "believes," "feels," "expects," "may," "will," "should," "seeks," "plans," "anticipates," or "intends" or the negative of those terms, or by discussions of strategy or intentions. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including without limitation: WorldHeart's need for additional capital in the future; risks in product development and market acceptance of and demand for WorldHeart's products; delisting from the NASDAQ Stock Market if compliance with the listing standards, including the Minimum Bid Price Rule and other minimum standards, is not regained; and other risks detailed in WorldHeart's filings with the U.S. Securities and Exchange Commission, including without limitation its Annual Report on Form 10-KSB/A for the year ended December 31, 2007 and its Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2008 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2008.


'/>"/>
SOURCE World Heart Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. WorldHeart Receives Favorable Decision to Continue NASDAQ Listing
2. WorldHeart Receives Non-Compliance Letter From NASDAQ Stock Market
3. WorldHeart Announces Voluntary Delisting from the Toronto Stock Exchange
4. WorldHeart Announces Possible Delisting Action by NASDAQ
5. WorldHeart Notified of TSX Delisting Review
6. WorldHeart Appoints David Pellone Chief Financial Officer
7. XELR8 Holdings Announces Conference Call to Review Third Quarter Financial Results
8. Onyx Pharmaceuticals Announces Third Quarter 2008 Financial Results Teleconference and Webcast
9. Foundation Radiology Group Announces Multi-Year Deal with Charles Cole Memorial Hospital
10. Morria Biopharmaceuticals Plc Announces Preliminary Results Regarding Inflammatory Markers From its Phase II Study in Allergic Rhinitis
11. Berger & Montague Announces Class Action Lawsuit Against Elan Corporation
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... 2016 , ... The Woodlands at John Knox Village , Florida’s first ... for living and healing, celebrated its grand opening, today. The Woodlands at John Knox ... by Empowered Staff. , “This is an incredibly fulfilling time for John Knox Village ...
(Date:5/26/2016)... TN (PRWEB) , ... May 26, 2016 , ... There ... and more than 32 million cancer survivors worldwide. On Sunday, June 5, 2016, communities ... 29th annual National Cancer Survivors Day®. , National Cancer Survivors Day® is an ...
(Date:5/26/2016)... ... May 26, 2016 , ... Catalent ... for drugs, biologics, consumer health and global clinical supply services, today announced two ... support the company’s continued investment and strategic growth plans in the Asia Pacific ...
(Date:5/26/2016)... , ... May 26, 2016 , ... An April Gallup ... families. , The 550 employees of Sun Health Senior Living (SHSL) may ... that reduces their doctor and prescription copays for the year, while holding the line ...
(Date:5/26/2016)... ... May 26, 2016 , ... Memorial Day Weekend marks the unofficial start ... is sharing tips to make sure your family and vehicle are ready to hit ... there may be 439 deaths and an additional 50,500 serious injuries from motor vehicle ...
Breaking Medicine News(10 mins):
(Date:5/25/2016)... May 25, 2016 Digital Health Dialog, ... it by the US Patent and Trademark Office ... includes proprietary processes for electronic opt-­in and processing ... wellness programs, HIPAA compliance and otherwise. ... "Our technology allows for individuals ...
(Date:5/24/2016)... Cirujanos holandeses han puesto en ... médicos a compartir sus mejores prácticas por el mundo ... médicos de Europa, África, Asia ... aplicación, que combina la transmisión en vivo con mensajería ... Educación   "Imagine un médico de Medicines ...
(Date:5/24/2016)... , May 24, 2016  NxStage Medical, Inc. (Nasdaq: ... focused on advancing renal care, today announced that ... participate in the following schedule of investor conferences. Where ... available at http://ir.nxstage.com/ .   ... Healthcare Conference NY, NY           Friday, June 10, 2016 ...
Breaking Medicine Technology: