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Thursday, April 28, 2011 2:31:01 PM
"Finally, Viropro announces it is deferring its shareholders meeting to June 17. Company requires more time to prepare the meeting considering the extent of the Agenda."
Viropro: Precisions on the Alpha Acquisition
1:10p ET March 31, 2011 (Business Wire)
VIROPRO (Pink Sheets: VPRO) On February 22nd, Viropro announced it had acquired Alpha Biologics Sdn of Penang Malaysia. In that Press Release, Viropro stated that the value of the plant would be reappraised to better reflect its true value; some investors were led to believe that Viropro would have to increase the number of shares issued as payment. Viropro therefore clarifies and confirms that its acquisition cost for the plant will remain at 525,000,000 shares whether or not value of the plan is reappraised.
Viropro also reemphasizes that it is currently processing all data pertaining to financial statements so as to disclose them as soon as possible and will from there undertake all necessary measures to regain full disclosure level. Rajiv Datar, CEO of Viropro, comments: "Income from our subsidiary in San Diego (Biologics Process Development Inc.) is increasing on a quarterly basis and it will show profits in 2011 so we are looking forward to producing explicit and detailed financials as soon as possible."
Operations at the different units is going according to plan. Dr Datar further comments: "We're quite pleased with the performance of our units. In Cambridge, UK for example, we recently reached an agreement with King's College. This is a highly prestigious institution and we are extremely pleased to be serving them."
Finally, Viropro announces it is deferring its shareholders meeting to June 17. Company requires more time to prepare the meeting considering the extent of the Agenda.
http://ih.advfn.com/p.php?pid=nmona&article=47109326&symbol=VPRO
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