MDS Recommends Single Class of Shares and Shareholder Rights Plan.Business Editors TORONTO--(BUSINESS WIRE)--Dec. 23, 1999 The Board of Directors of MDS MDS, n See temporomandibular pain-dysfunction syndrome. MDS 1 Maternal deprivation syndrome, see there 2 Myelodysplastic syndrome, see there Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :MDSa.)(TSE:MDSb.) has approved a restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of the MDS dual-class of shares (Class A Common shares and Class B Non-Voting shares) to a new, single-class of common shares, with each share having one vote. The Board has also approved the adoption of a Shareholder Rights Plan concurrent with the elimination of the dual share structure. Adoption of the share restructuring and Shareholder Rights Plan are subject to regulatory and shareholder approval. The Company will seek this approval at its Annual General and Special Meeting of Shareholders, to be held in Toronto on March 2, 2000. The restructuring will be one new Common share for each Class B Non-voting share, and 1.05 new Common shares for each Class A Common voting share. To the Company's knowledge, the only two shareholder groups which beneficially own or exercise control over more than 10% of the voting rights Voting rights The right to vote on matters that are put to a vote of security holders. For example the right to vote for directors. voting rights The type of voting and the amount of control held by the owners of a class of stock. attached to the outstanding Class A Common Shares of the Company-the Deferred Profit Sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of Plan of the Company and the Ontario Municipal Employees Retirement Fund-have indicated their support for the share restructuring. "We believe that the timing is right to simplify our share structure and that moving to one single voting share class will contribute to building shareholder value over the long term," commented Gary Goertz, MDS Executive Vice-President Finance and Chief Financial Officer. MDS Inc. (TSE:MDS.A, MDS.B) is an international health and life sciences company. In many of its products and services, it is among the largest and most respected companies in the world. MDS fights disease by providing: laboratory testing, imaging agents for nuclear medicine testing, sterilization sterilization Any surgical procedure intended to end fertility permanently (see contraception). Such operations remove or interrupt the anatomical pathways through which the cells involved in fertilization travel (see reproductive system). systems for medical and consumer products, research services to speed discovery and development of new drugs, therapy systems for planning and delivery of cancer treatment, analytical instruments to assist in the development of new drugs, and medical / surgical supplies. MDS employs more than 8,500 highly skilled people at its global operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. on four continents. Detailed information about the company is available at the MDS Web site at www.mdsintl.com or by calling 1-888-MDS-7222, 24 hours a day. |
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