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Press Release Source: Sinovac Biotech Ltd. Sinovac Biotech Ltd. Announces Intention to Effect a Forward Stock Split of the Company`s Shares of Common Stock on a Basis of Two New Shares for Each Old Share Monday May 10, 12:30 pm ET BEIJING--(BUSINESS WIRE)--May 10, 2004--Sinovac Biotech Ltd. ("Sinovac") (OTCBB: SNVBF - News; Frankfurt: SVQ) is pleased to announce that it has approved a forward stock split of the company`s shares of common stock on a basis of two new shares for each old share. The record date of the split will be announced shortly. The Board of Directors of Sinovac believes that the forward stock split would result in the greatest marketability and liquidity of Sinovac`s common stock, based upon prevailing market conditions, the likely effect on the market price of the common stock, and other relevant factors. Additionally, the Board of Directors believes that having a greater number of shares of the common stock available at a reduced price per share will increase the public`s interest in Sinovac`s business. The Board of Directors also anticipates that the availability of more shares of common stock will stabilize the market price of the Sinovac`s shares and result in broader distribution. Dr. Wei Dong Yin, Sinovac`s president, said the action underscores the board`s commitment to corporate growth and shareholder value. He added, "At this time we are experiencing dramatic sales growth of our Hepatitis A vaccine and are expecting the near-term launch of our combination Hepatitis A&B vaccine. Moreover, with sales of our flu vaccine expected to commence for the upcoming 2004/5 flu season this is a very exciting time for Sinovac as the company transitions into a major vaccine provider in the Chinese market." "These fundamentals are compounded even further by Sinovac`s world-leading development of the first SARS vaccine approved to enter human clinical trials. The Phase I clinical trial on the Inactivated SARS vaccine is scheduled to start imminently," Dr. Yin stated. "We believe that with the aforementioned fundamental growth, the stock split will result in greater share liquidity and lower volatility in our stock price by increasing the number of shares in the public float," Dr. Yin added further. Man beachte folgende Passage: At this time we are experiencing dramatic sales growth of our Hepatitis A vaccine and are expecting the near-term launch of our combination Hepatitis A&B vaccine. Moreover, with sales of our flu vaccine expected to commence for the upcoming 2004/5 flu season this is a very exciting time for Sinovac as the company transitions into a major vaccine provider in the Chinese market." Gruß Michael |
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| aus der Diskussion: | Thema: Sina+Sohu.com WER WIRD DIE NR.1 in CHINA TEIL 6 !!! |
| Autor (Datum des Eintrages): | Stock-Fool (10.05.04 22:41:15) |
| Beitrag: | 138 von 5,166 (ID:13064741) |
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