Generex Biotechnology Announces Update to Shareholder Stock DividendPosted on January 3, 2020
- Awaiting completion of FINRA approval process
- New dates projected for shareholder stock dividends
• New Pay Date: January 10, 2020
• New Ex-Date: January 13, 2020
• Record Date remains August 30, 2019
- Dividends remain the same
• Shareholders to receive 2 to 5 stock dividend of Generex Biotechnology shares plus an additional 2 to 5 stock dividend of NuGenerex Immuno-Oncology shares
MIRAMAR, Fla., Jan. 03, 2020 (GLOBE NEWSWIRE) — Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (“Generex”) today announced that the pay day for the two previously announced dividends in Generex Biotechnology and in NuGenerex Immuno-Oncology have been delayed due to the ongoing FINRA review and approval process. FINRA required a new approval process for the previously announced pay date, although the record date had not changed. Generex has provided FINRA with all requested information, and once FINRA approves and posts its approval to DTC, Generex will commence preparations for the dividend payment. Although unfortunate, the delay is temporary and Generex is committed to delivering the dividends to shareholders as soon as the approvals are obtained. Please remember if you sell your shares before the ex-date you will get a pay due bill and your dividend shares will go to the buyer. Conversely, if you buy shares up through the ex-date, you will receive the dividend through the “Pay Due” system and the seller will automatically pay you the dividends through broker to broker transfer.
Joe Moscato, President & CEO of Generex said, “I would like to thank all of our shareholders for your patience in this process. As a result of FINRA’s continuing review of the revised dividend, and with the addition of the NuGenerex Immuno-Oncology stock dividend, the FINRA review process was delayed over the holiday. Having provided all documentation necessary, Generex is simply waiting on FINRA to post its approval with the DTC so that brokers are prepared to accept and record the dividend shares into shareholder accounts. As per guidance from regulators, we expect the approvals next week, so the new pay date for the long-awaited dividend will be January 10, 2020. We will notify shareholders as soon as we hear of the approval from FINRA.”
Mr. Moscato continued, “Personally, I cannot wait to finally pay this dividend that shareholders deserve for believing in our plans that we started 3 years ago on January 17, 2017. Once the dividend is paid, we can concentrate on building the enterprise value of the acquisitions we have made in the orthopedic and wound care space, launching our end-to-end solution for diabetes care in Arizona, bringing NuGenerex Immuno-Oncology public, and closing the ALTuCELL deal to initiate the clinical development of their cutting-edge cell therapy for Type I diabetes. Again, thanks for your patience and we are looking towards positive results for Generex and our NuGenerex family of subsidiary companies in 2020.”
About Generex Biotechnology Corp.
Generex Biotechnology is an integrated healthcare holding company with end-to-end solutions for patient centric care from rapid diagnosis through delivery of personalized therapies. Generex is building a new kind of healthcare company that extends beyond traditional models providing support to physicians in an MSO network, and ongoing relationships with patients to improve the patient experience and access to optimal care.
Cautionary Note Regarding Forward-Looking Statements
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as “expects,” “plan,” “believes,” “will,” “achieve,” “anticipate,” “would,” “should,” “subject to” or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.