Advanced Neuromodulation Systems Announces Three-For-Two Stock Split.Business Editors DALLAS--(BUSINESS WIRE)--June 6, 2003 Advanced Neuromodulation Systems Advanced Neuromodulation System is a subsidiary of St. Jude Medical, Inc based in Plano, Texas. Among the products ANS makes and sells include spinal cord stimulators for intractable pain. , Inc. (ANS (ANS Communications, Inc, Purchase, NY) An ISP, Internet backbone and provider of private data network services, founded in 1990 as Advanced Network & Services, Inc., by IBM, MCI and Merit (consortium of Michigan universities). ) (Nasdaq:ANSI (American National Standards Institute, New York, www.ansi.org) A membership organization founded in 1918 that coordinates the development of U.S. voluntary national standards in both the private and public sectors. It is the U.S. member body to ISO and IEC. ) announced today that its Board of Directors has declared a 3-for-2 split of the company's common stock. The split, which will be effected in the form of a 50% stock dividend (one share of common stock payable for every two shares held), is payable on July 11, 2003, to shareholders of record on June 20, 2003. There currently are 12,818,103 ANS common shares outstanding. Accordingly, if no other shares of common stock are issued prior to the record date, the number of shares of common stock outstanding following the stock split will be 19,227,154. Fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. will be settled by rounding up to the nearest whole share. The Company's transfer agent is Computershare Investor Services, Inc., Chicago. President and Chief Executive Officer Chris Chavez said, "ANS' Board of Directors and management team are dedicated to the enhancement of shareholder value. This stock split is a tangible way for us to make the benefits of the company's strong performance available to our shareholders. It is also a sign of our confidence in ANS' continued growth and leadership in the neuromodulation industry." About Advanced Neuromodulation Systems Advanced Neuromodulation Systems designs, develops, manufactures and markets implantable systems used to manage chronic intractable pain intractable pain Refractory pain Pain medicine Persistent pain which does not respond to at least 3 dosease of parenteral analgesics given over a 12-24 hr period; pain that does not respond to appropriate doses of opioid analgesics. and other disorders of the central nervous system. Forbes magazine recently recognized ANS as one of America's 200 Best Small Companies. Frost & Sullivan, an international strategic market research firm, also recently presented ANS with its Product Innovation Award, recognizing ANS as the technology innovation leader in the neurostimulation market and ANS' Genesis(R) Implantable Pulse Generator implantable pulse generator Cardiac pacing A pacemaker used for permanent pacing, which is placed inside a pocket under the skin; the leads are positioned in or on the heart system as the most advanced fully implantable spinal cord stimulator Spinal Cord Stimulator (SCS) or Dorsal Column Stimulator (DCS) is an implantable medical device used to treat chronic pain of neurologic origin. An electric impulse generated by the device near the dorsal surface of the spinal cord provides a paresthesia ("tingling") on the market. Additional information is available at www.ANS-medical.com. |
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