ABIOMED(R) SHAREHOLDERS APPROVE CHANGES TO CORPORATE CHARTER.DANVERS, MA, Aug. 10, 1995--(BUSINESS WIRE)--ABIOMED, Inc. (Nasdaq:ABMD ABMD areal bone mineral density ABMD AEGIS Ballistic Missile Defense (US Navy) ABMD Advanced Ballistic Missile Defense ) announced today that the Company's shareholders have adopted each of the provisions outlined its 1995 proxy. In particular, the shareholders approved provisions designed to grant the Board of Directors broader authority and increased negotiating leverage in evaluating potential business combinations, including directives allowing the Board to consider all relevant factors and constituencies in connection with certain business combination, adoption of staggered terms staggered terms Membership terms for a firm's directors that expire in different years. A firm with 12 directors might have 4-year terms with 3 seats up for election each year. Staggered terms make it more difficult for a raider to gain control of a board. of office for members of the Board of Directors, and an increase in the number of common shares authorized Shares authorized The maximum number of shares of stock of a company allowed in the articles of incorporation, which may be changed only by a shareholder vote. See: Issued and outstanding. shares authorized See authorized capital stock. . Commenting on these actions, Dr. David M. Lederman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "ABIOMED has made significant operational and financial progress since the launch of the BVS-5000(R) two years ago. While the provisions adopted by the shareholders were not recommended in response to any known effort to acquire control of the Company, we believe that they will better enable the Company to continue to realize the potential of its proprietary technology and to build long-term shareholder value." Based in Danvers, Massachusetts Danvers is a town in Essex County, Massachusetts, United States. Located on the Danvers River near the northeastern coast of Massachusetts, Danvers is most widely known for its association with the 1692 Salem witch trials. , ABIOMED, Inc. develops, manufactures and markets innovative cardiovascular, medical and dental products and is a leader in the research and development of heart support systems. CONTACT: John F. Thero Chief Financial Officer Kristin T. Hurley Hurley has become the English version of at least three distinct original Irish names: the Ó hUirthile, part of the Dál gCais tribal group, based in Clare and North Tipperary; the Ó Muirthile, based around Kilbritain in west Cork; and the OhIarlatha, from the district of Executive Assistant (508) 777-5410 Ext. 100 or Betsy Brod/Alex Gleeson Media Contact: Lee Foley Morgen-Walke Associates (212) 850-5600 |
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