HOUSTON, Jan. 6 /PRNewswire-FirstCall/ -- Bederra Corporation , the medical imaging and diagnostic company, announced today that its Board of Directors has approved a 1 for 400 reverse split of its common stock, effective for all shareholders of record as of December 03, 2008. The Company has submitted all necessary applications for the split, including the assignment of a new trading symbol; it began trading on a post-split basis on December 31, 2008. The effect of the reverse stock split reduces Bederra’s common shares outstanding from 257,888,834 million to 644,722.
“The Board approved a reverse stock split as a measure to attract new investors and propel corporate growth. By reducing our total shares outstanding, our price per share will increase by 400x. By creating a more favorable capital structure, we can help increase interest among brokerage firms and market makers, who typically only trade in higher priced securities,” said Graham Williams, Chairman of the Board and CEO of Bederra Corp. “Fortunately, Bederra operates in the nearly recession proof, fast-growing U.S. health care industry. We are paving the way to capitalize on new business opportunities in 2009, including evaluating a number of potential acquisitions. The reverse split supports our goal to increase shareholder value over the long-term.”
Shareholders of record will shortly receive instructions from Bederra Corp.'s transfer agent, 1st National Trust, 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.
About Bederra Corp.
Bederra Corporation, through its wholly owned subsidiaries Diagnos, Inc. and Lumar Imaging, Inc., provides multiple modality diagnostic medical imaging services to the greater Houston area and the world famous Texas Medical Center. The Company operates an outpatient-imaging center that provides services such as MRI, CT, Ultrasound, X-Ray, Nuclear Medicine and various cardiac exams. In addition, Bederra has all the necessary Medicare, Medicaid and Commercial Insurance contracts. The Company’s business strategy is to continue to expand its current operations and seek out additional acquisitions that will complement its core offerings.
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company’s expectations with regard to the future impact on the company’s results from new products and services in development, including any planned acquisitions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectations.
CONTACT: Graham Williams, CEO of Bederra Corp., +1-281-540-0500,
info@bederra.com; or Rick McCaffrey, Investor Relations, +1-617-281-4662,
rickmccaffrey@cox.net
