Tikcro Technologies Announces One-for-Three Reverse Share Split.TEL AVIV, Israel -- Tikcro Technologies Ltd. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: TKCRF) announced today that the Company's proposed one-for-three reverse split was approved by the shareholders at its Annual Meeting on August 17, 2006 and will become effective at the market open on September 19, 2006. The record date for the reverse share split is September 18, 2006. As of September 5, 2006 there were 23,726,401 Ordinary Shares outstanding and after the reverse share split there will be approximately 7,908,800 Ordinary Shares outstanding. The transfer agent for the Company's Ordinary Shares is American Stock Transfer and Trust Company, 40 Wall Street, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10005. At the Annual Meeting, the shareholders also approved an amendment to the Company's Memorandum and Articles of Association converting the Ordinary Shares, NIS Niš or Nish (both: nēsh), city (1991 pop. 175,391), SE Serbia, on the Nišava River. An important railway and industrial center, it has industries that manufacture textiles, electronics, spirits, and locomotives. 0.10 par value, into Ordinary Shares with no par value. Therefore, the reverse share split will not result in a further adjustment to par value. The Company will round any fractional share 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. that results from the reverse share split to the nearest whole share, with a half share being rounded upward. Once effective, the Company's ordinary shares will trade under a new symbol to be determined by 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 . About Tikcro Technologies: Until the sale of substantially all of its assets and related liabilities to STMicroelectronics in 2002, Tikcro Technologies Ltd. (formerly known as Tioga Technologies Ltd.) developed standard integrated circuits (ICs) for broadband communications applications. Tikcro is headquartered in Tel Aviv, Israel. For more information, visit Tikcro website at www.tikcro.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Certain of the statements contained herein may be considered forward-looking statements that involve risks and uncertainties including, but not limited to, risks related to the asset purchase agreement with STM (Scanning Tunneling Microscope) A microscope that can image down to the atomic level. An STM uses a piezoelectric tube with a tiny sharp tip at the end that is moved within nanometers of the object being sampled. and risks of operations in Israel. Such risks and uncertainties are set forth in the Company's SEC reports including the Company's Form 20-F. Actual results may materially differ. Results of operations in any past period should not be considered indicative of the results to be expected for future periods. We undertake no duty to update any forward-looking information. |
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