Thursday, October 05, 2006 10:24:33 AM
I know there has been some confusion this morning about the reverse split. Following is the text of the press release that went out this morning via Business Wire. I hope this helps.
Brian Alleman, CFO
SIMTEK ANNOUNCES COMPLETION OF REVERSE SPLIT AND REINCORPORATION
Effective Thursday, October 5th, 2006, 12:01AM EDT
COLORADO SPRINGS, Colorado– October 5, 2006 – Simtek Corporation (OTC Bulletin Board: SMTE.OB), the world’s leading supplier of nonvolatile static random access memory (nvSRAM) integrated circuits announced today that it has completed the previously announced 1 for 10 reverse stock split and reincorporation in the State of Delaware. The reverse was effective at 12:01 am EDT on Thursday, October 5th, 2006. Effective today, Simtek’s common stock now trades under the new symbol OTCBB: SMTE.OB.
Approximately 16 million shares of common stock are issued and outstanding as of the effective date. Stockholders who hold their shares in brokerage accounts or "street name" will not be required to take any action to effect the exchange of their shares other than as requested by their banks, brokers or nominees. Stockholders of record who hold share certificates will receive a letter of transmittal requesting that they surrender their old stock certificates for new stock certificates reflecting the adjusted number of shares as a result of the reverse stock split. Continental Stock Transfer & Trust Company will serve as Simtek's transfer and exchange agent, implementing the exchange of stock certificates in connection with the reverse split. Fractional shares resulting from the reverse split were rounded up to the next nearest whole share.
Harold Blomquist, President and CEO, stated: “I am delighted that we have completed this important milestone as Simtek advances along its pathway of success. We are progressing nicely in terms of creating and enhancing shareholder value. We continue to move toward listing on a major national stock exchange.”
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
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