|[April 01, 2014]
Retractable Technologies, Inc. Declares Dividends to Series I and II Class B Preferred Stock Shareholders
LITTLE ELM, Texas --(Business Wire)--
Retractable Technologies, Inc. (NYSE MKT: RVP) announced today that its
Board of Directors has declared dividends to holders of its Series I
Class B and Series II Class B Convertible Preferred Stock in the amounts
of $12,937.50 and $44,675.00, respectively. The dividend amount is
$0.125 per share for Series I Class B shareholders and $0.25 per share
for Series II Class B shareholders. Dividends have accrued at 10% per
annum and cover amounts in arrears from December 31, 2013 through date
of conversion or March 31, 2014, whichever is applicable. The dividends
will be paid on April 21, 2014 to shareholders of record as of the close
of business on April 11, 2014.
Retractable manufactures and markets VanishPoint® and Patient
Safe® safety medical products. The VanishPoint® syringe,
blood collection, and IV catheter products are designed to prevent
needlestick injuries and product reuse by retracting the needle directly
from the patient, effectively reducing exosure to the contaminated
needle. Patient Safe® syringes are uniquely designed to
reduce the risk of bloodstream infections resulting from catheter hub
contamination. Retractable's products are distributed by various
specialty and general line distributors.
For more information on Retractable, visit our website at www.vanishpoint.com.
Forward-looking statements in this press release are made pursuant to
the safe harbor provision of the Private Securities Litigation Reform
Act of 1995 and reflect our current views with respect to future events.
We believe that the expectations reflected in such forward-looking
statements are accurate. However, we cannot assure you that such
expectations will materialize. Our actual future performance could
differ materially from such statements.
Factors that could cause or contribute to such differences include, but
are not limited to: our ability to maintain liquidity; our maintenance
of patent protection; the impact of current litigation; our ability to
maintain favorable third party manufacturing and supplier arrangements
and relationships; our ability to quickly increase capacity in response
to an increase in demand; our ability to access the market; our ability
to maintain or lower production costs; our ability to continue to
finance research and development as well as operations and expansion of
production; the continuing interest of larger market players,
specifically Becton, Dickinson and Company, in providing devices to the
safety market; and other risks and uncertainties that are detailed from
time to time in Retractable's periodic reports filed with the U.S.
Securities and Exchange Commission.
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