Calypte Biomedical Corporation Holds Annual Meeting of Shareholders
Wednesday May 21, 9:03 am ET
Obtains Shareholder Approval for All Agenda Items
ALAMEDA, Calif.--(BUSINESS WIRE)--May 21, 2003--Calypte Biomedical Corporation (OTCBB:CALY - News), the developer and marketer of the only two FDA-approved HIV-1 antibody tests that can be used on urine samples, as well as an FDA-approved serum HIV-1 antibody Western blot supplemental test, announces that it received shareholder approval for proposals submitted to shareholders at its Annual Meeting of Shareholders held May 20, 2003.
Specifically, shareholders approved an amendment to the Company's Amended and Restated Certificate of Incorporation to implement a reverse stock split of the outstanding shares of the company's common stock at a ratio of 1:30. The company's authorized shares of common and preferred stock will not be affected by the reverse split which is expected to be effective May 27, 2003.
In addition to approval of the reverse split of outstanding shares of common stock, shareholders also approved proposals to increase the number of common shares reserved for issuance under the company's 2000 Equity Incentive, 1995 Director Option, and 1995 Employee Stock Purchase Plans.
"We are very pleased that all agenda items presented obtained shareholder approval at our Annual Meeting," stated Anthony Cataldo, Calypte's chairman. "We look forward to the continued support of our shareholders."