MFTH News Medisafe 1 Technologies Anticipates a
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MFTH News
Medisafe 1 Technologies Anticipates a Special Dividend of $0.01 (One Cent) to Each Shareholder of One Common Stock pending the $7MM Perpetual License Sale of Technology Rights
2012-09-10 08:30 ET - News Release
JERUSALEM, September 10, 2012 /PRNewswire/ --
Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that the company intends to issue a one-time special dividend to all existing shareholders pending the perpetual license sale of technology rights to a third party.
As recently reported, Medisafe 1 Technologies has advanced negotiations to enter into a non-exclusive perpetual license agreement that would transfer rights for the full commercialization, marketing and distribution of its patented medicinal locking mechanism and bar-code matching system.
Terms of the sale include a one-time payment of $7MM. The perpetual license agreement is anticipated to be signed within 30 days, pending the results of a due diligence study by the intended buyer.
The estimated dividend amount payable to each shareholder of one common stock is $0.01.
"Upon the anticipated completion of this non-exclusive perpetual license agreement, we will be extremely pleased to be able to reward our shareholders with this special dividend," said Jacob Elhadad, CEO of Medisafe 1 Technologies Corp. "Similarly, we intend to continue to update our shareholders with further information following the sale's closing."
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