10/27: Human Genome Sciences Calls Stockholder Meeting to Authorize Additional S....
Human Genome Sciences Calls Stockholder Meeting to Authorize Additional Shares
ROCKVILLE, Md., Oct. 27 /PRNewswire/ -- Human Genome Sciences, Inc. (Nasdaq: HGSI) announced today that its Board of Directors will call a special meeting of its stockholders to seek stockholder approval to increase the number of its authorized shares of Common Stock and Preferred Stock. The Company seeks to increase the number of shares of Common Stock the Company is authorized to issue from 50,000,000 to 250,000,000 shares and to increase the number of shares of Preferred Stock that the Company is authorized to issue from 1,000,000 to 20,000,000 shares.
The purpose of the increase in authorized shares is to provide increased flexibility for a variety of possible transactions, including stock splits or dividends, acquisitions, establishing new collaborations or other strategic relationships and securing additional financing for company operations. Although the Company has discussed the possibility of declaring a stock dividend or stock split, and may determine to do so in the future, the Company has no specific plans for any such action at this time.
The Company expects that the special meeting will be held on or about December 16, 1999. Proxy materials will be mailed to all Human Genome Sciences stockholders.
Human Genome Sciences is a company with the mission to develop products to predict, prevent, detect, treat and cure disease based on its leadership in the discovery and understanding of human and microbial genes.
HGS and Human Genome Sciences are registered trademarks of Human Genome Sciences, Inc. For additional information on Human Genome Sciences, Inc., visit the company's web site at www.hgsi.com. Copies of HGS press releases are also available by fax 24 hours a day at no charge by calling 800-758-5804, ext. 121115.
Any statements released by Human Genome Sciences, Inc. that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward looking statements involve risks and uncertainties which may affect the company's business prospects and performance. These include economic, competitive, governmental, technological and other factors discussed in the company's filings with the Securities and Exchange Commission on forms 10-K, 10-Q and 8-K.
SOURCE Human Genome Sciences, Inc.
CO: Human Genome Sciences, Inc.
ST: Maryland, New York
IN: MTC
SU:
10/27/1999 16:15 EDT prnewswire.com |
