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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Entelos Regs | LSE:ENTL | London | Ordinary Share | COM SHS USD0.001 (REG S) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMENTLEntelos, Inc. ("Entelos" or the "Company") (LSE: ENTL), a leader in predictive disease simulation for pharmaceutical, health-care and consumer products applications, today announces the mailing on Friday, June 12, 2009 of its Notice of Annual Meeting of Stockholders and Proxy Statement Relating to Proposed Delisting from AIM and other Matters. The Company also announces that it has posted a copy of its proxy statement and proxy card, in connection with resolutions to be voted on at the Entelos Annual Stockholder Meeting taking place on June 23, 2009, on its website at www.Entelos.com.
On April 29, 2009, Entelos announced the departure of James Karis, the Company's former CEO, and Alan Blazei, the Company's former CFO and Secretary. Today the Company announces that Mr. Blazei and Mr. Karis each resigned from their positions as members of the Company's Board of Directors, on June 10, 2009 and June 11, 2009, respectively. The Company is pleased to announce that Mr. Blazei has agreed to continue his relationship with the Company as a financial consultant. Mr. Blazei currently holds approximately 303,755 shares of the Company's stock. Mr. Karis currently holds approximately 872,057 shares of the Company's stock.
Entelos is exploring ways to optimize its capital structure so as to better position the Company in developing its unique market position going forward. A significant step in this direction was announced on June 1, 2009, when the Company disclosed that it intends to seek stockholder approval to cancel the trading of its shares of common stock on the AIM Exchange. The Company's senior management and Board of Directors have been considering a variety of strategic transactions over the past year, including seeking new significant equity investments and working to restructure its existing secured indebtedness, in order to provide the platform necessary for the Company to continue to grow its core business. In this process it has become clear that, given the Company's current capital structure, potential equity investors would prefer to make an investment in the Company only after it has become private. This is one of the reasons why the Company's Board of Directors has authorized the proposed de-listing of the Company's shares from the AIM Exchange.
Entelos also announces that, following receipt of unsolicited expressions of interest from certain third parties investigating the possibility of acquiring or entering into another strategic transaction with Entelos, the Company has retained Seven Hills Partners LLC as its financial advisor. Seven Hills is assisting the Company's Board of Directors and senior management in evaluating various strategic alternatives which the Company hopes will enhance shareholder value, including various financing and capital raising alternatives.
About Entelos
Entelos, Inc. (www.entelos.com) is a US-based life sciences company applying next-generation predictive technologies to revolutionize the way medicines are discovered, developed, and utilized. The Company leverages its proprietary in silico disease models, "virtual human" technology, and toxicology reference systems to develop safer and more effective drugs, improve the quality of health-related consumer products, and deliver on the promise of personalized medicine. Entelos provides customized products, technology and research services to global pharmaceutical, health-care, and consumer products companies in safety testing, arthritis, cardiovascular diseases, asthma, obesity, diabetes, hematopoeisis (anemia), cholesterol metabolism, skin sensitization, and personal care products.
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