UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 28, 2011
Retractable Technologies, Inc.
(Exact name of registrant as specified in its charter)
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Texas |
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001-16465 |
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75-2599762 |
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(State or other jurisdiction |
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(Commission |
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(IRS Employer |
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of incorporation) |
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File Number) |
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Identification No.) |
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511 Lobo Lane, Little Elm, Texas |
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75068-0009 |
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(Address of principal executive offices) |
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(Zip Code) |
Registrant’s telephone number, including area code (972) 294-1010
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On June 28, 2011, Retractable Technologies, Inc. issued a press release, a copy of which is attached to this Form 8-K as Exhibit 99, announcing declaration of a dividend to the Series I and II Class B shareholders.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99 Press release announcing declaration of a dividend to the Series I and II Class B shareholders issued on June 28, 2011.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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DATE: June 29, 2011 |
RETRACTABLE TECHNOLOGIES, INC. | |
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(Registrant) | |
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BY: |
/s/ Thomas J. Shaw |
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THOMAS J. SHAW |
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PRESIDENT AND CHIEF EXECUTIVE OFFICER |
Exhibit 99
RETRACTABLE TECHNOLOGIES, INC. DECLARES DIVIDENDS TO SERIES I AND II CLASS B SHAREHOLDERS
LITTLE ELM, Texas, June 28, 2011—Retractable Technologies, Inc. (NYSE AMEX: RVP) announced today that its Board of Directors has declared dividends to holders of Series I Class B and Series II Class B Convertible Preferred Stock in the amounts of $72,000 and $219,700, respectively. The dividend amount is $0.50 per share for Series I Class B shareholders and $1.00 per share for Series II Class B shareholders. Dividends have accrued at 10% per annum and cover amounts in arrears from June 30, 2010 through date of conversion or June 30, 2011, whichever is applicable. The dividends will be paid on July 15, 2011 to shareholders of record as of the close of business on July 8, 2011.
Retractable manufactures and markets safety medical products, principally VanishPoint® automated retraction safety syringes, automated retraction blood collection devices, and automated retraction IV catheters, that virtually eliminate healthcare worker exposure to accidental needlestick injuries. These revolutionary devices use patented technology that causes the contaminated needle to retract automatically, a feature that is designed to prevent both accidental needlestick injury and device reuse. Retractable also manufactures and markets Patient Safe® syringes that 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 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 increased 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.
Investor Contact:
Douglas W. Cowan
Vice President and Chief Financial Officer
(888) 806-2626 or (972) 294-1010