Synthes-Stratec, Inc. name change and share split will be effective on May 24, 2004
Oberdorf/Switzerland, May 14, 2004
Synthes-Stratec announces that the name change from Synthes-Stratec, Inc. to Synthes, Inc. and the 10 for 1 share split will be effective on May 24, 2004.
Name change
At the Annual General Meeting of Shareholders on April 22, 2004, an amendment to the Certificate of Incorporation of Synthes-Stratec, Inc. was approved, which allows for a change of the company's name to Synthes, Inc. This change of name will be registered in Delaware, the place of incorporation of Synthes, after close of trading on May 21, 2004. The ticker symbol, SYST, will remain unchanged.
By changing its name, Synthes reinforces its identity as the pure-play global osteosynthesis company addressing musculoskeletal healthcare needs throughout the world by providing the highly recognized Synthes instruments and Synthes implants to the medical community.
Stock split 10 for 1
At the same Annual General Meeting, the Shareholders agreed to a 10 for 1 split of the outstanding shares of Common Stock by approving an amendment to the Certificate of Incorporation to change the number of authorized Common Shares. As a result of the stock split, each of the 11,492,263 issued and outstanding shares will be reclassified into ten new shares each, leading to a new total of 114,922,630 issued and outstanding shares of Common Stock. In the stock split, the existing par value of each Common Share will be reduced from CHF 0.01 to CHF 0.001 (one tenth of one centime) and the stated capital from CHF 5.00 per share to CHF 0.50 per share. This stock split is permitted under applicable Delaware law.
The stock split will also be registered in Delaware after close of trading on May 21, 2004. The unsplit stock will be traded until the close of trading on May 21, 2004. The split stock will begin trading at the opening of trading on May 24, 2004. The stock split requires a change of the Swiss Security Number (Valorennummer) and the ISIN-number. The new Swiss Security Number is 1863105 and the new ISIN-number is US 87162M4096. The depository banks will take all steps in relation to the share split, so that no action is needed on behalf of existing shareholders.
Synthes-Stratec, Inc.
Synthes-Stratec, Inc. is a leading global medical device company specializing in the development, manufacturing and marketing of orthopedic instruments and implants. Applications include surgical treatment of bone and maxillofacial trauma or deformities and a full range of products for spine surgery.
For further information please contact
Peter Fehlmann, Investor Relations, Synthes-Stratec, Inc.
Phone: +41 61 965 63 39, Fax: +41 61 965 66 06
e-mail: ir.info@synthes.com