ADDISON, Texas, June 17, 2011 /PRNewswire/ -- ULURU Inc. (NYSE AMEX: ULU) today announced that its Annual Meeting of Stockholders was reconvened on June 16, 2011 for the purpose of determining stockholder voting with respect to Proposal No. 3, a proposal to authorize the Board of Directors to amend the Company's Restated Articles of Incorporation at any time prior to July 31, 2011 to effect a reverse stock split of the Company's outstanding common stock at a ratio to be determined by the Board of Directors but not to exceed 15 pre-reverse-split shares into one post-reverse-split share.
As of April 4, 2011, the record date, 87,341,709 shares of common stock were eligible to vote. As of June 16, 2011, approximately 69%, or 60.4 million shares of the Company's outstanding shares have been voted on the charter amendment, and of these shares 46.5 million shares have been voted in favor of the proposal which is in excess of the votes necessary to approve the proposal. The results of the stockholder votes on the third proposal which was considered and voted upon at the reconvened Annual Meeting will be released in a separate 8-K filing.
Kerry P. Gray, the Chairman, Chief Executive Officer and President of ULURU Inc., stated, "We are pleased that our stockholders have voted in favor of this proposal as I believe that implementing the reverse stock split more favorably positions the Company in the financial markets."
About ULURU Inc.:
ULURU Inc. is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative Nanoflex® Aggregate technology and OraDisc™ transmucosal delivery system. For further information about ULURU Inc., please visit our website at www.uluruinc.com. For further information about A
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