Teltronics Amends Bylaws to Ease Stock Transfers
Effective March 10, 2010, Teltronics Will Issue Uncertificated Shares of Its Common Stock
PALMETTO, Fla., March 11 /PRNewswire-FirstCall/ -- Following action by the Company's Board of Directors, Teltronics, Inc. (OTC Bulletin Board: TELT), a premier provider of communications products and services, announces the change in Company bylaws regarding the issue of uncertificated shares of its common stock. This change makes trades easier & more convenient for stockholders by offering the choice to participate in the Direct Registration Systems (DRS) administered by The Depository Trust Company.
The DRS allows stockholders to have registered shares of Teltronics stock without physical certificates. Shareholders can now quickly & easily transfer shares electronically to brokers without the movement of stock certificates. Using the DRS, eliminates the risk of loss, theft, destruction of certificates and the time and expense to replace a lost certificate.
"Our decision to offer uncertificated shares of stock gives more options to our shareholders and allows them to better control their personal investments," states Ewen Cameron, President and CEO for Teltronics.
Shareholders can still request, in writing, a physical certificate if preferred.
About Teltronics, Inc.
Teltronics, Inc. is a leading, global provider of innovative communications solutions that enable our customers to increase revenues, decrease costs and improve productivity. The Company designs, develops and manufactures electronic equipment and applications software systems that enhance the performance of communications networks. Teltronics develops VoIP and digital voice communications platforms and software and contact center solutions for small-to-large size businesses and government facilities. Teltronics is also recognized as a leading provider of network management solutions enabling enterprises and service providers to effectively monitor and maintain voice and data networks. All products are manufactured in an ISO 9001:2008 certified factory and the Company serves as a contract manufacturing partner to customers nationwide. Further information regarding Teltronics is available at the web site, www.teltronics.com.
A number of statements contained in this press release are forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as we "believe," "anticipate," "expect," or words of similar import. Similarly, statements that describe our future plans, objectives, strategies or goals are also forward-looking statements. These forward-looking statements involve a number of risks and uncertainties that may materially adversely affect the anticipated results. Such risks and uncertainties include, but are not limited to, the timely development and market acceptance of products and technologies, competitive market conditions, payment of the consideration under our acquisition agreements, successful integration of acquisitions and the failure to realize the expected benefits of such acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses ,the ability to make payments under our outstanding indebtedness, the ability to pay dividends on our preferred stock, risks relating to foreign currency translations, and other factors described in the Company's filings with the Securities and Exchange Commission. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements made herein and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and we disclaim any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE Teltronics, Inc.
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