MIAMISBURG, Ohio, Jan. 8, 2013 /PRNewswire/ -- Galtech
Semiconductor Materials Corp. (Pink Sheets: GTSM), an
Advanced Software Technology and Hardware Technology products
company, announced today that the Board of Directors and the
Galtech majority shareholder, Dr. F. N.
Kautzmann, III, also CEO, Chairman and President of Galtech
Semiconductor Materials Corporation, Inc., the filing of a
Certificate of Amendment to the Company's Amended and Restated
Articles of Incorporation filed on December
13, 2012 following approval by Galtech's Board of
Directors and the majority shareholder, was approved by the
State of Utah, Department of
Commerce, Division of Corporations & Commercial Code, on
January 3, 2013, that effected a
reverse stock split of Galtech's issued and outstanding shares of
common stock at a ratio of 1-for-20. Shareholders whose shares are
fractionally reduced from this reverse stock split will receive one
share of stock. The number of authorized common shares remains at
200,000,000. The reverse stock split is immediately effective as of
January 3, 2013.
American Registrar & Transfer Co., Salt Lake City, Utah, Galtech's transfer
agent, is acting as the Exchange Agent for the reverse stock
split. Stockholders will receive the forms and notices to
exchange their existing shares for the new shares from the Exchange
Agent, or from their bank, broker or other nominee holder.
Stockholders who hold stock certificates evidencing their shares of
Galtech's common stock are advised that they should not send in
their stock certificates until they receive a letter of
transmittal, which will contain detailed instructions for
exchanging their existing stock certificates from American
Registrar & Transfer Co. of Salt Lake
City, Utah.
This press release is neither an offer to sell nor a
solicitation of an offer to buy shares of common stock or any other
securities of Galtech Semiconductor and Materials Corporation and
shall not constitute an offer, solicitation or sale in any
jurisdiction in which such an offer, solicitation or sale would be
unlawful.
CONTACT:
William Tunnell, SVP
Galtech 623 825-2550
SOURCE Galtech Semiconductor Materials Corp.