Conolog Effects One-For-Six Reverse Stock Split and Begins Trading Under New Symbol CNLGD at Open of Market Today
04 8월 2006 - 9:00PM
PR Newswire (US)
SOMERVILLE, N.J., Aug. 4 /PRNewswire-FirstCall/ -- Conolog
Corporation (NASDAQ:CNLG), an engineering and design company that
provides digital signal processing solutions to global electric
utilities, announced today that at a Special Meeting of
Shareholders held on August 2, 2006 at the offices of Epstein
Becker & Green, P.C. in New York City, the overwhelming
majority of shareholders approved a proposal to effectuate a
one-for-six reverse stock split of Company's common stock,
effective today at the open of market. Conolog Chairman Robert
Benou stated, "Following a 96% approval by Conolog Shareholders,
the Board of Directors unanimously voted in favor of the reverse
stock split. NASDAQ will effect the 1-6 reverse split at the open
of the market today, August 4, 2006, and the symbol will change to
CNLGD at that time. The symbol will return to CNLG at the open of
the market on September 1, 2006." Benou added, "The Board also
voted to issue the 450,000 shares of restricted common stock, which
were authorized by the shareholders at the Annual Meeting held on
April 19, 2006, to its employees, officers, directors and
consultants." About Conolog Corporation Conolog Corporation is a
provider of digital signal processing and digital security
solutions to electric utilities worldwide. The Company designs and
manufactures electromagnetic products to the military and provides
engineering and design services to a variety of industries,
government organizations and public utilities nationwide. The
Company's INIVEN division manufactures a line of digital signal
processing systems, including transmitters, receivers and
multiplexers. Conolog systems continue to demonstrate the global
applications of our products, ease of installation and our
commitment to low maintenance and long-term reliability. Contact:
Conolog Corporation: Robert Benou, Chairman, 908/722-8081; National
Financial Network, Geoffrey Eiten, Investor Relations,
781/444-6100, ext. 613 or email , or visit
http://www.nfnonline.com/cnlg. Forward-looking statements in this
release are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties, including, without limitation, continued acceptance
of the Company's products, increased levels of competition, new
products introduced by competitors, and other risks detailed from
time to time in the Company's periodic reports filed with the
Securities and Exchange Commission. There can be no assurance that
this stock reverse will result in additional sales of our products.
DATASOURCE: Conolog Corporation CONTACT: Robert Benou, Chairman, of
Conolog Corporation, +1-908-722-8081; or Geoffrey Eiten, Investor
Relations, of National Financial Network, +1-781-444-6100, ext.
613, Web site: http://www.conolog.com/
http://www.nfnonline.com/cnlg
Copyright