Amedia Networks Holds 2007 Annual Meeting
Posted on: Monday, 20 August 2007, 09:10 CDT
EATONTOWN, N.J., Aug. 20 /PRNewswire-FirstCall/ -- Amedia Networks, Inc. (BULLETIN BOARD: AANI) , a provider of next generation media gateways to distribute and manage ultra-broadband triple-play services in the home, today announced that the stockholders have approved all proposals during the 2007 Annual Meeting held August 14, 2007, including the requested increase in authorized shares of common stock. This increase in authorized shares will allow the company to implement the 10 to 1 forward stock split previously approved by the Board of Directors. Amedia has given the requisite 10-day notice to the NASD for purposes of establishing the record date. The split will be structured in the form of a 900% dividend and Shareholders of record as of close of business on August 24, 2007 will receive 9 (nine) shares of Common Stock for every 1 (one) share of Common Stock held. There will be no change in the par value of the shares.
"We're pleased that our shareholders have approved all of our proposals, in particular by approving the increase in authorized shares. As we work diligently to execute our strategy and continue to achieve major milestones, implementing the 10 to 1 forward stock split is but one of many steps we will undertake to enhance shareholder value," said Frank Galuppo, President, CEO and Director of Amedia Networks.
About Amedia Networks
Amedia Networks, Inc. (BULLETIN BOARD: AANI) provides next generation residential media gateways to distribute and manage high-quality voice, high- definition video, and high-speed data services throughout the networked home. The Amedia residential gateway offers a single, compact, configurable device with the collective functionality of a modem, wireless access point, router, VoIP adapter, and family firewall - all in one. It also features media storage and a built-in operating system for carriers to continuously develop and deliver new, ultra-broadband applications to the home. For more information, visit http://www.amedia.com/.
This press release may contain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995. A number of factors could cause Amedia's actual results to differ from anticipated results expressed in such forward-looking statements. Such factors are addressed in Amedia's filings with the Securities and Exchange Commission (available at http://www.sec.gov/) and include, but are not limited to, the success and market acceptance of Amedia's triple play solution, the sufficiency of cash reserves to meet operating and other requirements, the relatively fast pace of obsolescence in the broadband communications equipment market, and the competitive environment in the economy generally and in the telecommunications specifically. Amedia assumes no obligation to update any forward-looking statements.
Amedia Networks, Inc.
CONTACT: JD Gardner, CFO and SVP Business Operations, Amedia Networks,+1-732-440-1959,
Web site: http://www.amedia.com/
Source: PRNewswire-FirstCall
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