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Oakland, CA (canadaTECH.INFO) – October 29, 2008 - World Heart Corporation (Nasdaq: WHRTD) announced today it has effected a reverse stock split of 30-to-1 after filing of articles of amendment with Industry Canada under the Canada Business Corporations Act (CBCA) and commenced trading on the NASDAQ Capital Market on a post-consolidation basis on October 28, 2008.
World Heart’s shareholders approved the proposal for a reverse stock split at a Special Meeting of Shareholders held on October 9, 2008 and World Heart’s board of directors determined to implement the reverse stock split at a 30-to-1 ratio. Completion of the reverse split is intended to allow World Heart to keep its listing on the NASDAQ Capital Market, subject to continued compliance with all of the other listing requirements.
World Heart’s common shares commenced trading on October 28, 2008 under the symbol "WHRTD" and under a new CUSIP number 980905400. The symbol "WHRTD" will remain in effect until November 25, 2008 and subsequently will resume trading under the symbol "WHRT".
Oakland, California based World Heart is a developer of mechanical circulatory support systems, with additional facilities in Salt Lake City, Utah and Herkenbosch, The Netherlands. World Heart's registered office is in Ottawa, Ontario, Canada.
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