News out: Generex Publishes Update to Pending 2
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Posted On: 11/13/2018 9:03:51 AM
News out:
Generex Publishes Update to Pending 20:1 Stock Dividend
9:00 AM ET, 11/13/2018 - Business Wire
MIRAMAR, Fla.--(BUSINESS WIRE)--Nov. 13, 2018-- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today released an update on its previously announced 20:1 common stock dividend pending completion of FINRA review.
All OTC traded companies are required to file a notice with FINRA of material corporate actions such as a stock dividend. Generex did so in the case of the planned stock dividend. Subsequent to Generex’s filing with FINRA and what management believed was the complete resolution of FINRA’s questions regarding the subject stock dividend, new issues arose after FINRA’s review of two Schedule 13G’s filed by an investor indicating that investor had sold a substantial number of shares of common stock. At that time, FINRA informed us that it was extending its review of our filing relating to the stock dividend. As such, the stock dividend record date and payment date have been extended with the final dates yet to be set pending the finalization of FINRA’s review.
Here is a link to the subject Schedule 13G’s that have extended the date of record and pay date. The entity which filed these Schedules does not have a representative in Generex management or on the Board of Directors.
https://www.sec.gov/Archives/edgar/data/10597...rexbio.htm
https://www.sec.gov/Archives/edgar/data/10597...-index.htm
Joseph Moscato, Generex’s President and Chief Executive Officer, commented: "Delays can be frustrating and for any frustration experienced by shareholders, I apologize and assure you, we are committed to completing the dividend as soon as the subsequent FINRA review is concluded."
This press release does not constitute legal advice.Investors are encouraged to solicit independent legal advice and to consult their independent investment brokerage firms as to record, payment, and ex-dividend dates and the application thereof to trades in the Company’s common stock in the context of the stock dividend.
Generex Publishes Update to Pending 20:1 Stock Dividend
9:00 AM ET, 11/13/2018 - Business Wire
MIRAMAR, Fla.--(BUSINESS WIRE)--Nov. 13, 2018-- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today released an update on its previously announced 20:1 common stock dividend pending completion of FINRA review.
All OTC traded companies are required to file a notice with FINRA of material corporate actions such as a stock dividend. Generex did so in the case of the planned stock dividend. Subsequent to Generex’s filing with FINRA and what management believed was the complete resolution of FINRA’s questions regarding the subject stock dividend, new issues arose after FINRA’s review of two Schedule 13G’s filed by an investor indicating that investor had sold a substantial number of shares of common stock. At that time, FINRA informed us that it was extending its review of our filing relating to the stock dividend. As such, the stock dividend record date and payment date have been extended with the final dates yet to be set pending the finalization of FINRA’s review.
Here is a link to the subject Schedule 13G’s that have extended the date of record and pay date. The entity which filed these Schedules does not have a representative in Generex management or on the Board of Directors.
https://www.sec.gov/Archives/edgar/data/10597...rexbio.htm
https://www.sec.gov/Archives/edgar/data/10597...-index.htm
Joseph Moscato, Generex’s President and Chief Executive Officer, commented: "Delays can be frustrating and for any frustration experienced by shareholders, I apologize and assure you, we are committed to completing the dividend as soon as the subsequent FINRA review is concluded."
This press release does not constitute legal advice.Investors are encouraged to solicit independent legal advice and to consult their independent investment brokerage firms as to record, payment, and ex-dividend dates and the application thereof to trades in the Company’s common stock in the context of the stock dividend.
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