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National Healthcare corporate update
WINNIPEG, MB, May 27 /CNW-PRN/ - National Healthcare Manufacturing Corporation (NASDAQ: NHMC) announces that in response to shareholder approval at the Company's Annual General Meeting held December 1, 1998 and in accordance with The NASDAQ Stock Market's minimum bid price listing requirements, it has declared a one for five reverse split of the Company's Class ''A'' common shares. The record and effective date of the reverse split will be May 27, 1999. No fractional shares will be issued. National Healthcare will trade under the temporary symbol ''NHMCD'' for twenty trading days after the split and will have 3,366,293 shares issued and outstanding post split. National Healthcare shareholders may register their shares through the Company's Transfer Agent, Pacific Corporate Trust Company in Vancouver, BC under the new CUSIP No. 635902208.
In addition, National Healthcare has appointed the accounting firm Grant Thornton as its corporate auditors effective April 30, 1999. Grant Thornton is a member of Grant Thornton International, one of the largest accounting and consulting organizations in the world. Grant Thornton replaces Arthur Andersen LLP which resigned on April 30, 1999.
National Healthcare is being recognized as a market leader committed to reducing healthcare costs by providing efficient and cost effective alternatives to conventional products and services to healthcare providers. National Healthcare owns and operates the world's first and only automated robotic production facility capable of assembling and packaging various kits and trays for medical and surgical procedures. Through its wholly owned subsidiaries, National Healthcare manufactures and distributes personal care, anti-microbial and cellulose based paper products such as examination gowns to healthcare and homecare institutions throughout North America and Europe. Also, National Healthcare Logistics (a 50% subsidiary), is revolutionizing conventional medical distribution with its state of the art Hub & Spoke logistics systems.
On Behalf of the Board,
Mac J. Shahsavar, P. Eng.
President & CEO
NASDAQ has neither approved or disapproved the information in this news release.
SOURCE National Healthcare Manufacturing Corporation
CO: National Healthcare Manufacturing Corporation
ST: Manitoba
IN: HEA
SU:
05/27/99 16:21 EDT prnewswire.com |
