TAIZHOU,
The reverse share split is expected to lead the Company’s ordinary shares to trade at approximately twenty times the price per share at which it trades prior to the effectiveness of the reverse share split. The Company, however, cannot assure that the price of its ordinary shares after the reverse split will reflect the 1 for 20 reverse split ratio, that the price per share following the effective time of the reverse split will be maintained for any period of time, or that the price will remain above the pre-split trading price.
The Company has filed the Amended and Restated Articles and Memorandum of Association in connection with the reverse share split. As of
Treatment of Stock Options and Restricted Shares
The number of ordinary shares into which the Company’s outstanding stock options and restricted shares as well as the options’ relevant exercise price per share will be proportionally adjusted to reflect the reverse split.
Fractional Shares
Any fractional shares that would have resulted because of the Reverse Split will be rounded up to the nearest whole share.
New Ordinary Share Certificates
Certificates reflecting the new share number will be issued in due course as old share certificates are tendered for exchange or transfer to the Company’s transfer agent, TranShare. Registered shareholders holding pre-split shares of the Company's ordinary shares electronically in book-entry form are not required to take any action to receive post-split shares. Shareholders who hold their shares through a securities broker or nominee (i.e., in “street name”) will be contacted by their brokers or nominees with any instructions. For more information, shareholders and securities brokers should contact TranShare at (303)662-1112.
About
Founded in 2005 and headquartered in Taizhou City, Jiangsu Province, China,
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company's statements regarding the closing of the proposed private placement are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; the growth of the pharmaceutical market, particularly the Traditional Chinese Medicine Pieces ("TCMPs") market, in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company serves and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the
For more information, please contact:
Email: fzhou@sxtchina.com
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