Neurobiological Technologies Announces Extraordinary Dividend of $0.18 per Share
23 Novembre 2009 - 2:00PM
PR Newswire (US)
Company also Announces Timing and Plans to Voluntarily Delist from
the Nasdaq Capital Market and Initiate Dissolution Process
EMERYVILLE, Calif., Nov. 23 /PRNewswire-FirstCall/ --
Neurobiological Technologies, Inc. (NASDAQ:NTII) ("NTI") announced
today that its board of directors has declared an extraordinary
dividend of $0.18 per share of common stock, which will be paid on
December 9, 2009 to stockholders of record as of November 30, 2009.
The December 9, 2009 extraordinary dividend follows stockholder
approval of the dissolution of NTI pursuant to a plan of complete
liquidation and dissolution and an earlier extraordinary dividend
of $0.75 per share that was paid to shareholders on November 18,
2009. The dividend of $0.18 per share was declared by the board of
directors following the Company's recent sale of auction rate
securities as disclosed in the Quarterly Report on Form 10-Q filed
with the SEC on November 16, 2009. NTI also announced plans to file
a Form 25 with the Securities and Exchange Commission on December
7, 2009, to effect the voluntary delisting of NTI's common stock
from the Nasdaq Capital Market. The Company expects this voluntary
delisting from Nasdaq to become effective on December 17, 2009. NTI
also expects to close its stock transfer books and to discontinue
recording transfers and issuing stock certificates on December 17,
2009. Thereafter, NTI's stock may be traded in the OTC or Pink
Sheet markets, but the Company will have no involvement in such
trading. After December 17, 2009, the Company does not intend to
issue press releases or file any reports with the SEC, except for
Current Reports on Form 8-K describing material events related to
its dissolution and liquidation. Also on December 17, 2009, the
Company intends to file a certificate of dissolution in Delaware,
its state of incorporation, after which the Company may not carry
on any business except that appropriate to wind up and liquidate
the business. A detailed description of the dissolution process is
contained in the definitive proxy statement filed with the SEC on
September 22, 2009, a copy of which can be viewed on the SEC's
website at http://www.sec.gov/. About Neurobiological Technologies,
Inc. Neurobiological Technologies, Inc. is a biopharmaceutical
company historically focused on developing investigational drugs
for central nervous system conditions. DATASOURCE: Neurobiological
Technologies, Inc. CONTACT: Matthew M. Loar, CFO of Neurobiological
Technologies, Inc., +1-510-595-6000 Web Site: http://www.ntii.com/
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