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Re: deadjim post# 377

Thursday, 11/06/2014 12:42:32 PM

Thursday, November 06, 2014 12:42:32 PM

Post# of 382
CHOP- Board of Directors Approve of One-for-Ten Reverse Stock Split

On November 6, 2014, the Company's Board of Directors approved a one-for-ten reverse stock split of the Company's issued and outstanding Ordinary Shares. It is expected that the Company's Ordinary Shares will begin trading on the NASDAQ Stock Market on a split-adjusted basis when the market opens on November 7, 2014. The Company's Ordinary Shares will continue to trade under the symbol "CHOP" but with a new CUSIP number.

The reverse stock split is intended to increase the per share trading price of the Company's Ordinary Shares to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Stock Market.

As a result of the reverse stock split, every 10 issued and outstanding shares at the effective time will automatically be combined into one issued and outstanding share without any change in par value of those shares. In lieu of issuing fractional shares, the Company will round fractions of shares up to the nearest whole share.

Once the reverse stock split becomes effective, stockholders holding shares through a brokerage account or held in "street name" will have their shares automatically adjusted to reflect the 1-for-10 reverse stock split. Existing stockholders holding certificates of Ordinary Shares will receive a letter of transmittal from the Company's transfer agent, Continental Stock Transfer & Trust, with specific instructions regarding the exchange of shares. All outstanding stock options, warrants and other rights to purchase the Company's Ordinary Shares will be adjusted proportionately as a result of the reverse stock split. This will reduce the number of outstanding Ordinary Shares of the Company from approximately 59.3 million to approximately 5.9 million. However, the number of total authorized Ordinary Shares of the Company will not be changed as a result of the reverse split. Please direct any questions to your broker or the Company's Transfer Agent, Continental Stock Transfer & Trust, by calling 212-845-3277.


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