Navigation Links
American Oriental Bioengineering Inc. Announces Plans for Reverse Stock Split of its Common Stock

NEWARK, N.J., Feb. 21, 2012 /PRNewswire-Asia-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB) (the "Company") today announced that on January 31, 2012, its board of directors adopted resolutions approving a reverse stock split (the "Reverse Split") of the outstanding shares of the Company's common stock ("Common Stock") at a ratio of one (1) share for every two (2) shares outstanding, so that every two (2) outstanding shares of Common Stock before the Reverse Split shall represent one (1) share of Common Stock after the Reverse Split.

Pursuant to the Company's Amended Articles of Incorporation filed with the Nevada Secretary of State, the maximum number of shares of Common Stock that the Company is authorized to issue will also be reduced from 150,000,000 to 75,000,000.  The Reverse Split will be effected without obtaining shareholder approval pursuant to Nevada law.  The effective date of the Reverse Split with the Nevada Secretary of State is set for Friday, February 24, 2012.  Accordingly, the New York Stock Exchange has set the effective date of the Reverse Split for Monday, February 27, 2012. The Reverse Split is part of the Company's strategy to maintain the listing of its shares on the New York Stock Exchange.

Currently, the Company has approximately 78,503,381 shares of Common Stock outstanding. After the Reverse Split, the Company would have approximately 39,251,867 shares outstanding.  Each stockholder's percentage ownership interest in the Company and proportional voting power will remain unchanged after the Reverse Split except for minor changes and adjustments resulting from rounding of fractional interests.  The rights and privileges of the holders of Common Stock shall be substantially unaffected by the Reverse Split.

About American Oriental Bioengineering, Inc.

American Oriental Bioengineering, Inc. is a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter products.

Safe Harbor Statement

Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995.  Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements.  The economic, competitive, governmental, technological and other factors identified in the Company's filings with the Securities and Exchange Commission, may cause actual results or events to differ materially from those described in the forward looking statements in this press release.  The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.


Hong Zhu

SOURCE American Oriental Bioengineering, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. American Association for Homecare Calls for Market-Based Alternative to Medicares Bidding Program; Cites Lack of Access for Beneficiaries
2. American Academy of Dermatology and LEO Pharma Launch Educational Website to Raise Awareness About Sun Damage and Skin Cancer
3. MiMedx Announces Nationwide Launch of AmnioFix® Injectable at American Academy of Orthopaedic Surgeons Annual Meeting
4. American Pacific to Release Financial Results and Hold Fiscal 2012 First Quarter Investor Teleconference
5. Partnership Between Lilly Diabetes and the American Diabetes Association to Send 89 Children to American Diabetes Association Diabetes Camps in 2012
6. In Honor of American Heart Month, Joy Behar & Daughter Eve Call on Women to Take the ProHeart Pledge on Facebook
7. Aria Announces Publication of Independent Study in the American Journal of Obstetrics & Gynecology Using Arias Technology
8. NBA, American Diabetes Association and Sanofi US Tip Off 2012 Dribble to Stop Diabetes Campaign
9. Triple-S Salud and American Health Medicare Partner With MedAssurant
10. BHI Urges People with Heart Disease to Get Their Hearing Checked During American Heart Month
11. American Consumer Institute Warns FTC: ESI/Medco Deal Poses Significant Anticompetitive Risks
Post Your Comments:
(Date:12/1/2015)... , Dec. 1, 2015  Athletic apparel ... founder have agreed to pay $1.35 million to ... advertised the company,s copper-infused compression clothing would relieve ... arthritis and other diseases. Tommie ... requires the company and its founder and chairman ...
(Date:12/1/2015)... de diciembre de 2015  AccuTEC Blades, ... de precisión, develó hoy un nuevo logo ... marca. El nuevo logo destaca la experiencia ... ingeniería de productos con cuchillas donde "el ... --> ...
(Date:12/1/2015)... --> --> ... Acid Labeling Market by Product (Reagents & Kits, Services), ... Vitro Transcription, Reverse Transcription, End Labeling), by Region - ... market is expected to reach USD 1,925.7 Million by ... a CAGR of 8.65%. Browse 77 market ...
Breaking Medicine Technology:
(Date:12/1/2015)... PA (PRWEB) , ... December 01, 2015 , ... ... imaging facilities, radiographic technicians must mark the film for accurate interpretation by the ... track of. Fortunately, an inventor from Sacramento, Calif., has found a way to ...
(Date:12/1/2015)... ... December 01, 2015 , ... ... Imaging Inc. (“Visage”), a wholly owned subsidiary of Pro Medicus Ltd. (ASX: PME), ... at the Radiological Society of North America (RSNA) 2015 annual meeting through December ...
(Date:12/1/2015)... (PRWEB) , ... December 01, 2015 , ... ... that it has been selected as a finalist in this year’s Fierce Innovation ... FierceMobileHealthcare. Next IT Healthcare was recognized as a finalist in the category of ...
(Date:12/1/2015)... (PRWEB) , ... December 01, 2015 , ... Lutronic, a ... of Clarity, the latest addition to the devices for sale in the United States. ... nm Alexandrite and long-pulsed 1064 nm Nd:YAG lasers, into a single platform that is ...
(Date:12/1/2015)... ... December 01, 2015 , ... PYA’s ... Post-Affiliation Integration ,” addresses a main “pain point” for merging or aligning healthcare ... once a deal is signed. This quick-read guidance suggests that failing to ...
Breaking Medicine News(10 mins):