UTAH MEDICAL PRODUCTS,
UTMD Clarifies Terms of Tender Offer
Contact: Paul Richins
Salt Lake City, Utah - Utah Medical Products, Inc. (Nasdaq:UTMD) today filed via the SEC’s EDGAR database a number of clarifications to its written offer materials sent to shareholders in October. The modifications may be accessed at the SEC’s website at http://www.sec.gov, which site is also linked to UTMD’s website at http://www.utahmed.com
The Company has extended the expiration of its offer to 5:00 p.m. Eastern time on Tuesday, November 12. In addition, the "back-end" odd lot provision has been removed, which means that if the Offer is oversubscribed, the Company will purchase the resulting prorata portion of each tendering shareholder’s tendered shares, even if the number of shares returned to the shareholder due to proration is less than 100 shares.
Although the Company believes all the revisions to its "Offer to Purchase For Cash Up To 750,000 Shares of Its Common Stock At a Purchase Price of $17.05 Per Share" documentation are minor, it urges shareholders to access and read the information before deciding whether to tender or refrain from tendering their shares. This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any shares of the Company’s common stock. The solicitation to buy the Company’s common stock will only be made pursuant to the Offer to purchase and related materials, as amended, that the Company has filed with the SEC. Shareholders should carefully read the Offer to purchase and related materials including the revisions and clarifications filed on EDGAR today. UTMD’s Depositary for the Offer is Registrar and Transfer Company, 10 Commerce Drive, Cranford, NJ 07016 Attn: Reorganization Department, Telephone Number: (800) 368-5948, Facsimile Number: (908) 497-2311.
Shareholders who have previously tendered shares may change their minds and withdraw them on or before 5:00 P.M. New York City time, Tuesday, November 12.
With regard to the Safe Harbor Statement in UTMD’s October 1, 2002 press release announcing its tender offer, the Company notes that the Private Securities Litigation Reform Act of 1995 does not apply to statements made in connection with a tender offer. Shareholders are advised that the safe harbor protections do not apply to statements in any of the tender offer materials.
Utah Medical Products, Inc., with particular interest in healthcare for women and their babies, develops, manufactures, assembles and markets a broad range of disposable and reusable specialty medical devices designed for better health outcomes for patients and their care-providers.