Utah Medical Products, Inc.
This article was originally published in The Gray Sheet
Shareholders tender approximately 1.3 mil. shares under an $8-per-share repurchase offer announced May 26 (1"The Gray Sheet" May 31, p. 20). UM will purchase about 1.15 mil. of the 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 UM's outstanding shares," the firm explains. About 6.5 mil. shares will be outstanding after the repurchase. "Shareholders who did not tender their shares now own 18% more of UM than they did before the offer expired" July 23, the Salt Lake City firm says
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Plans to repurchase at least 800,000 shares at $8 each "if tendered and not withdrawn by shareholders on or before July 9," the firm states. The $8 figure is equal to the highest trading price over the last 12 months. The repurchase plan reflects management's feeling that the stock is currently undervalued relative to the firm's prospects
Personal care and cosmetic product trademark filings compiled from the Official Gazette of the US Patent and Trademark Office, Class 3.
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