ADDISON, Texas, June 17, 2011 /PRNewswire/ -- ULURU Inc. (NYSEAMEX: ULU) today announced that its Annual Meeting of Stockholders was reconvened on June 16, 2011 for the purpose of determining stockholder voting with respect to Proposal No. 3, a proposal to authorize the Board of Directors to amend the Company's Restated Articles of Incorporation at any time prior to July 31, 2011 to effect a reverse stock split of the Company's outstanding common stock at a ratio to be determined by the Board of Directors but not to exceed 15 pre-reverse-split shares into one post-reverse-split share.
As of April 4, 2011, the record date, 87,341,709 shares of common stock were eligible to vote. As of June 16, 2011, approximately 69%, or 60.4 million shares of the Company's outstanding shares have been voted on the charter amendment, and of these shares 46.5 million shares have been voted in favor of the proposal which is in excess of the votes necessary to approve the proposal. The results of the stockholder votes on the third proposal which was considered and voted upon at the reconvened Annual Meeting will be released in a separate 8-K filing.
Kerry P. Gray, the Chairman, Chief Executive Officer and President of ULURU Inc., stated, "We are pleased that our stockholders have voted in favor of this proposal as I believe that implementing the reverse stock split more favorably positions the Company in the financial markets."
About ULURU Inc.:
ULURU Inc. is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative Nanoflex® Aggregate technology and OraDisc™ transmucosal delivery system. For further information about ULURU Inc., please visit our website at www.uluruinc.com. For further information about Altrazeal®, please visit our website at www.altrazeal.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, including but not limited to statements made relating to future financial performance of ULURU Inc. (the "Company"), and to favorably positioning the Company in the financial markets. When used in this press release, the words "believe," "expect" and "anticipate" and similar expressions may be indicative of forward-looking statements. These statements by their nature involve substantial risks and uncertainties, certain of which are beyond the Company's control. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of an unanticipated event. Further, management cannot assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. These statements are subject to numerous risks and uncertainties, including but not limited to the risk factors detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2010 and other reports filed by us with the Securities and Exchange Commission.
Kerry P. Gray
President & CEO
Terry K. Wallberg
Vice President & CFO
SOURCE ULURU Inc.