UTAH MEDICAL PRODUCTS,
Utah Medical Products, Inc. Announces
Results of Tender Offer
Contact: Paul Richins
Salt Lake City, Utah - UMs Tender Offer for 1,000,000 of its Shares at $8.00 per share, initially announced on May 26, expired at 5:00 p.m. Eastern Time Friday July 23. According to preliminary results tabulated by Registrar and Transfer Company, the Depositary for the Offer, which need final verification, shareholders tendered 1,271,000 shares.
In accordance with the applicable regulations of the SEC, which allow the Company to purchase pursuant to the Offer an additional amount of shares not to exceed 2% of UMs outstanding shares, UM will purchase 100% of the odd lots and 90% of all other shares tendered, or about 1,150,000 total shares. UM estimates that proceeds will be distributed to selling shareholders by the Depositary in about two weeks time.
After the Offer, UMs outstanding shares will number approximately 6,450,000. Shareholders who did not tender their shares now own 18% more of UM than they did before the Offer expired. Management hopes that UMs consistently improving performance together with the share repurchases will generate more interest from investors looking for excellent stock values.
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.