Chyron Announces Special Meeting of Shareholders.MELVILLE, N.Y. -- Chyron Corporation (OTCBB: CYRO), a leading developer of hardware and software products for broadcast graphics and digital information displays, announced today that it intends to hold a special shareholders meeting in New York City in late August 2007, following the mailing in early August of a proxy statement to shareholders of record. The Company said that the purpose of the meeting will be to take steps to qualify its common stock on the American Stock Exchange LLC (AMEX), where the Company has recently applied for listing. The shareholders will be asked to authorize a reverse stock split of the Company's issued common stock in order to meet the listing requirements of the AMEX. There can be no assurance that the application will be approved. Michael Wellesley-Wesley, Chyron President and CEO commented, "We believe that listing on the AMEX will improve the liquidity and stability of our common stock, and will broaden the audience of potential institutional purchasers, many of whom cannot buy shares listed on the Electronic Bulletin Board. The wider audience will be, we believe, a benefit to our shareholders." The ratio of the reverse stock split will be determined during the application listing process, but is characterized in the proxy as between one (1) share in exchange for two (2) shares, and one (1) share in exchange for four (4) shares. The Company said that an amendment increasing the number of shares in its 1999 Incentive Compensation Plan will also be considered at the meeting. Chyron Corporation With unwavering clarity of vision, Chyron continues to define and dominate the world of broadcast graphics. Winner of numerous awards, including two Emmys, Chyron has proven itself as the undisputed leader in the industry. From the entry-level MicroX to the HD/SD-switchable HyperX2 with Lyric PRO, Chyron's exceptional product line brings unmatched, 2D and 3D graphics creation and performance to the most demanding studio and mobile operations. Rounding out Chyron's graphics offerings are still and clip servers, channel branding and telestration systems, graphic asset management and XMP integration solutions and the award-winning WAPSTR mobile phone newsgathering application. The ChyTV product line leverages Chyron's broadcast expertise with video graphics devices for microcasting and digital displays. Chyron holds a patent on technology that enables the integration of live television graphics data with a broad range of interactive media platforms and consumer electronics devices. With over 40 years of experience, Chyron has a unique history of service and support for its products that far exceeds that of most manufacturers. For more information about Chyron products and services, please visit the company websites at www.chyron.com and www.chytv.com (OTC BB:CYRO.OB). |
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