Ross Systems, Inc. Effects One for Ten Reverse Stock Split
ATLANTA, April 26 /PRNewswire/ -- Ross Systems, Inc. (Nasdaq: ROSS) (the "Company") today announced that as of 9:00 AM ET tomorrow, the Company will effect a 1-for-10 reverse stock split of its outstanding shares, approved by the majority vote of its shareholders. Shareholders will receive one newly issued share of Company common stock for each ten shares of Company common stock currently held. The Company's Nasdaq symbol, which was "ROSS," has been temporarily changed to "ROSSD" to signal to shareholders and the public that the Company has implemented a reverse stock split.
About Ross Systems, Inc.
Ross Systems Inc. is a leading provider of world class enterprise management software and e-business solutions for mid-market process manufacturers. The Ross Systems family of solutions includes the award- winning iRenaissance.ERP, a broad range of Internet-enabled enterprise resource planning and management applications for financials, manufacturing, advanced planning, supply-chain management, maintenance management, transportation management, and materials management. Ross Systems' e-business product family includes digital marketplace applications spanning procurement, sales, Internet trading exchange connectivity, collaboration and employee productivity. More than 3,400 companies around the world use Ross Systems solutions in open systems environments including NT and UNIX. Ross Systems has more than 35 offices around the world to serve its customers. Ross Systems Inc., Two Concourse Parkway, Suite 800, Atlanta, Ga. 30328, 770-351-9600, 1-877-ROSS-INC, rossinc.com .
Safe Harbor
Certain statements in this press release, including the statements regarding the distribution of newly issued shares to shareholders as part of the reverse stock split and the Company's compliance with the continued listing requirements of the Nasdaq National Market are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, including the Company's ability to complete the distribution of newly issued shares to shareholders, the Company's ability to regain compliance with Nasdaq's minimum bid requirement, the inherent volatility and unpredictability of the stock market generally and of the stock prices of technology companies in particular and uncertainty with respect to the effect of reverse stock splits on stock pricing, results may differ materially from those expressed or implied by such forward-looking statements. Investors are also encouraged to read the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended June 30, 2000, and the Company's Quarterly Reports on Form 10-Q for the quarters ended September 30, 2000 and December 31, 2000, which are on file with the Securities and Exchange Commission.
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SOURCE Ross Systems, Inc.
CO: Ross Systems, Inc.
ST: Georgia
IN: CPR MLM STW
SU:
04/26/2001 17:13 EDT prnewswire.com |
