10/19/2005 5:13:16 PM
LIME ROCK, Conn.--(BUSINESS WIRE)--April 12, 2005--Meditech Pharmaceuticals, Inc. ("Meditech") (OTCBB:MDPM) today announced that its Board of Directors has declared a spin-off dividend of its wholly-owned subsidiary, East West Distributors, Inc.
The spin-off dividend contemplates that Meditech's common stockholders will receive one share of common stock, par value $0.001 per share, of East West Distributors, Inc. ("East West"), a wholly-owned subsidiary of Meditech, for each share of Meditech common stock owned by such common stockholders of Meditech of record as of February 17, 2005. The distribution of the spin-off dividend is subject to the filing, and declaration of effectiveness by the Securities and Exchange Commission, of a Registration Statement on Form 10-SB under the Securities Exchange Act of 1934. The distribution of the spin-off dividend will occur upon the effectiveness of the Form 10-SB. The Form 10-SB has not yet been filed with the Securities and Exchange Commission.
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