One-for-four reverse stock split? Sign of strength? Most likely that is what propaganda Geoff Eiten will say about the reverse split proposal. Feeding the fish frenzy?
Conolog Responds to Shareholder Inquiries
SOMERVILLE, N.J.--(BUSINESS WIRE)--Sept. 27, 2000--Conolog Corporation (NASDAQ: CNLG, CNLGW) in response to a number of shareholder inquiries, announced today that the inclusion in this year's Shareholder Meeting Proxy Statement of an amendment to the Company's Certificate of Incorporation to give effect to a one-for-four reverse stock split of its Common Stock does not necessarily signify or imply that such a split will, in fact, occur.
The inclusion of the amendment as an item to be voted upon at the meeting is a precaution the Company's Board of Directors would like to set in place. Such an amendment would enable the Company to move quickly to permit its Common Stock to continue trading on Nasdaq and to prevent the marketplace from arbitrarily impacting the Company's listing status.
Conolog President Robert Benou commented, "Today, companies need to be proactive in protecting themselves and their shareholders from the volatility of today's marketplace. That was our sole intention, in adding this item to our agenda."
Conolog Corporation provides engineering and design services, technical personnel placement, and computer maintenance services. The Company's INIVEN division manufactures a line of digital signal processing systems, including transmitters, receivers and multiplexers.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
CONTACT:
Conolog Corporation
Robert Benou
(908) 722-8081
or
National Financial Network
Geoffrey Eiten
(781) 444-6100 ext. 13
(877) 385-0977
KEYWORD: NEW JERSEY |
