NovaDel Pharma (NVD) Announces Adjournment of Special Stockholder Meeting
6/27/2013 9:48:21 AM
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BRIDGEWATER, N.J.--(BUSINESS WIRE)--NovaDel Pharma Inc. (the “Company”) (OTC Pink: NVDL) announced today that the Special Meeting of the Company’s Stockholders scheduled for today for the purpose of obtaining stockholder approval of the sale of substantially all of the Company’s assets to Suda Ltd. and the liquidation and dissolution of the Company, was adjourned due to the lack of the requisite quorum. A majority of the Company’s outstanding common stock must be present at the Special Meeting, either in person or by proxy, to establish a quorum, but only approximately 45% of the outstanding shares have been voted. However, of the votes that have been cast to date, over 75% of such votes have been cast in favor of the proposals.
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