Donlar Biosyntrex Announces Shareholder Meeting On Proposed Merger With Donlar Corportion.Business Editors BEDFORD PARK Bedford Park is the name of several places around the world:
Donlar Biosyntrex Corporation (the "Company") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DBSY), a world leader in green chemistry, products and technology, announced today that it has scheduled a meeting of its shareholders to vote on the proposed merger of the Company with Donlar Corporation ("Donlar"), which owns 68 percent of the common stock of the Company. The meeting will be held at 11:00 AM, Chicago time, at the offices of the Company, 6502 South Archer Road, Bedford Park, Illinois Bedford Park is a village in Cook County, Illinois, United States. The population was 574 at the 2000 census. Bedford Park consists of a small residential area and vast amounts of heavy industry sprawling to the east and a small amount to the west. , on Thursday, February 27, 2003. The Company expects to mail its Information Statement/Prospectus for the merger on Wednesday, February 5, 2003, to its shareholders of record as of January 10, 2003. Approval of the merger requires a majority vote of the Company's outstanding shares. Donlar also intends to hold a meeting of its shareholders on the same day to vote on the merger. Approval of the merger by Donlar requires a two-thirds vote of its shareholders. Donlar is a private company whose shares are not publicly traded. If approved by the shareholders of both companies, the merger will become effective promptly following the shareholder meetings. Donlar will be the surviving corporation, and, following the merger, its common stock will be traded on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Bulletin Board under a symbol not yet determined. Detailed information concerning the Company, Donlar and the merger can be found in the Information Statement/Prospectus which is posted on Donlar's web site, www.donlar.com. About Donlar Donlar Biosyntrex Corporation is at the forefront of providing a new class of protein biopolymers that help customers by providing solutions while satisfying environmental concerns for the creation of non-toxic products for a wide range of industrial, agricultural and consumer markets. The Company's non-hazardous, non-toxic, hypoallergenic hy·po·al·ler·gen·ic adj. Having a decreased tendency to provoke an allergic reaction. hypoallergenic (hī´pōal´urjen´ik), adj , environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] and biodegradable thermal polyaspartate (TPA (Transient Program Area) See transient area. TPA - Transient Program Area ) biopolymers are protected by 187 Company-owned patents. The Company's applications for its products include the markets of oil field operations, fertilizers, detergents and water treatment. Donlar's beta-protein biopolymers are manufactured in its 50,000 square foot facility located in Peru, Illinois. (www.donlar.com) This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements, which involve a number of risks and uncertainties. The contents of this release should be considered in conjunction with the risk factors in Donlar Biosyntrex's most recent filings with the Securities and Exchange Commission on Forms 10-QSB and 10-KSB and current reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . |
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