Chromatics Color Sciences International. Inc; CCSI Message Board

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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI

CCSI 29.41

+0.3%

3:59 PM EST

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To: invest04 who wrote (680)	12/23/1997 5:58:00 PM
From: JanyBlueEyes	of 5736

3 For 2 Forward Stock Split News NEW YORK--(BUSINESS WIRE)--Dec. 23, 1997--Chromatics Color Sciences International Inc. (NASDAQ:CCSI) announced today that the board of directors of the company has adopted proposals for submission to the shareholders for their approval in order to effect (i) a 3 for 2 forward split of the outstanding shares of common stock, (ii) an extension to Dec. 31, 2000 of the expiration date of the conversion feature of the company's Series A preferred stock and (iii) a revision to the market price conversion feature of the Series A preferred stock to adjust for the stock split and a revision to modify certain performance goals. These matters will be presented to the shareholders in the near future for their review and approval. The board of directors has also added a new independent director to the company's board of directors, Edmund Vimond. Vimond is a former CEO of Shulton (a subsidiary of American Cyanamid Co.) and R.J. Reynolds Tobacco International, in addition to holding earlier management positions at Johnson and Johnson and Warner-Lambert Co. "We are very pleased that Mr. Vimond is joining us during this next phase in the company's development," said Darby S. Macfarlane, chief executive officer, CCSI. The company is engaged in the business of color science and has developed technologies with medical applications involving the detection and monitoring of certain chromogenic diseases. These technologies also have other applications including the scientific color measurement and classification of human skin, certain color-sensitive consumer products, and in determining the color compatibility of such skin and product color classification for use in a variety of industries including the cosmetic, beauty aid and fashion industries. The company's common stock is traded on NASDAQ under the symbol "CCSI." Certain of the matters discussed in this announcement contain forward-looking statements ...........

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