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:1/16/2017)... (PRWEB) , ... January 16, 2017 , ... San Francisco ... iTero Element, the latest in 3-D scanning device which is capable of taking digital ... latest advances in dentistry, such as CAD CAM restorations , in terms of ...
(Date:1/15/2017)... ... ... In this role, Courtney will be responsible for developing new business initiatives ... mark. This certification program was created by ASL and the nonprofit Asthma and Allergy ... for the 60+ million people living in the U.S. with asthma and allergies. Courtney ...
(Date:1/15/2017)... ... January 15, 2017 , ... Accreditation Commission for ... for its specialty care services. Albertsons Companies is the largest national food ... for pharmacy patients. , Accreditation by ACHC reflects Albertsons Companies’ dedication and commitment ...
(Date:1/15/2017)... ... January 14, 2017 , ... Wondering where to go ... delivered straight to your door for a romantic, lobster feast in the comfort of ... for Valentine's Day. The dinners will be featured until February 15th, 2017. , ...
(Date:1/14/2017)... ... January 14, 2017 , ... ... among their expanding line of activated charcoal products. With more and more people ... categorizing their products according to how they cater to specific needs. , Moody ...
Breaking Medicine News(10 mins):
(Date:1/16/2017)... India , January 16, 2017 ... Market Research, titled, "Sterilization Technologies Market by Type and ... the global sterilization technologies market is expected to reach ... growing at a CAGR of 5.8% from 2016 to ... market in 2015, with more than half share, in ...
(Date:1/16/2017)... January 16, 2017 Bill is an internationally ... general management and leadership positions with global medical device companies, including ... track record of launching new products and building successful businesses in ... Africa and North America ... Educated at ...
(Date:1/16/2017)... , Jan. 16, 2017 CBDRx, the ... large amounts of phyto-nutrient rich hemp extract to Veteran,s ... donation of their proprietary hemp extract to Veteran,s groups ... the best hemp company in the world and through ... most nutritious, full spectrum phyto-nutrient rich hemp extract available. ...
Breaking Medicine Technology: