Enterprise Informatics Inc - Additional Information (definitive) (DEFA14C)
09 May 2008 - 5:13AM
Edgar (US Regulatory)
PRESS RELEASE
FOR IMMEDIATE RELEASE
ENTERPRISE INFORMATICS ANNOUNCES COMPLETION OF
REVERSE STOCK SPLIT
AND EXPECTED SUSPENSION OF REPORTING OBLIGATIONS
SAN
DIEGO, CA, May 8, 2008
Enterprise Informatics
Inc. (OTCBB: EPRS), a leading provider of enterprise information management
solutions, today announced that it has amended its articles of incorporation to
effect a 1,000-to-1 reverse split of its common stock. In connection with the reverse stock split,
one new share of common stock will be issued in exchange for every 1,000
currently outstanding shares of common stock held by a shareholder on May 7,
2008. In lieu of the issuance of
fractional shares, cash will be paid in the amount of $0.05 for each pre-split
common share held on May 7, 2008 corresponding to a fraction of a
post-split common share to which a shareholder would otherwise be
entitled. The reverse stock split was
approved on March 11, 2008 by the Companys board of directors and on April 10,
2008 by the Companys majority shareholder, ERP2 Holdings, LLC, acting by
written consent in accordance with California law.
The Companys shareholders of record will shortly receive instructions
from the Companys transfer agent, Mellon Investor Services, concerning the
procedures for exchanging certificates representing pre-split shares of common
stock for certificates representing post-split shares of common stock and/or
cash in lieu of fractional shares.
The reverse stock split resulted in the reduction of the number of
holders of record of the Companys common stock below 300. Consequently, the Company is eligible to
immediately suspend its reporting obligations under the Securities Exchange Act
of 1934 and to deregister its common stock under the Securities Exchange Act of
1934. The Company expects to effect such
suspension and deregistration on May 8, 2008.
The Companys common stock is currently quoted on the OTC Bulletin
Board and on the Pink Sheets. The
Company anticipates that, upon suspension of its reporting obligations, the
Companys common stock will no longer be eligible for quotation on the OTC
Bulletin Board and that such quotation will terminate as of the open of trading
on or about May 9, 2008. The
Company anticipates that its common stock will continue to be quoted on the
Pink Sheets following the suspension of its reporting obligations although the
continuation of such quotation for any period of time cannot be assured.
The Company anticipates that its common stock will continue to be
quoted on the Pink Sheets on a pre-split basis until the open of trading on or
about May 9, 2008. At that time,
quotations of the Companys common stock on the Pink Sheets are expected to
commence on a post-split basis. If
trading on the OTC Bulletin Board is not earlier suspended by such time, the
Company anticipates that quotations on the OTC Bulletin Board will also
commence on a post-split basis.
The Company expects that, upon the reverse stock split becoming
effective for purposes of quotation on the Pink Sheets and, if applicable, on
the OTC Bulletin Board, the Companys common stock will trade under a new
trading symbol. The Company will
announce the new symbol once it is received.
COMPANY
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CONTACT:
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Alan Kiraly, CEO
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John Low, CFO
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(858) 625-3000
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About Enterprise Informatics
Enterprise Informatics is a leading provider of enterprise information
management solutions that enable organizations to reduce the cost of meeting
compliance requirements, minimize business risk and optimize process
efficiency. Enterprise Informatics advanced software product, eB, ensures the
integrity of the controlled information by uniquely managing the connectivity
to all relevant information such as documents, records, assets, people,
processes and projects creating an ecosystem for the rapid access of accurate
information in context. eB vastly improves the integrity, visibility and access
to all relevant information at the time it is needed.
Key customers include Entergy, NuStart Energy, Constellation Energy,
Florida Power & Light, Continental Express, Ameren UE, City of Dayton,
Lloyds Register of Shipping, Northeast Utilities, Network Rail, Aker Kvaerner,
City of Las Vegas, City of Winston Salem, Fayetteville Public Works Commission
and many others.
www.enterpriseinformatics.com
This press release contains forward-looking
statements. These statements can be identified by the words, expects,
projects, hopes, believes, could, and other similar words. Actual
results, events or performance could differ materially from these forward-looking
statements based on a variety of factors, many of which are beyond the
Companys control. Therefore, readers are cautioned not to put undue reliance
on these statements. Investors are cautioned that all such statements involve
risks and uncertainties, which may include risks related to the occurrence of
any event, change or other circumstance that could cause the Company to abandon
or modify its plan to effect the suspension of its reporting obligations and
the deregistration of its common stock or that could cause the Companys common
stock to cease to be eligible for quotation on the Pink Sheets. Forward-looking
statements contained in this press release should be considered in light of
these factors, and those factors discussed from time to time in the Companys
public reports filed with the Securities and Exchange Commission, such as those
discussed under the heading, Risk Factors, in the Companys most recent
annual report on Form 10-K. These forward-looking statements speak only as
of the date hereof.
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