NAPL Napo Pharm.Regs

    RNS Number : 7117D
  Napo Pharmaceuticals Inc
  18 September 2008
   

 For immediate release  18 September 2008


    Napo Pharmaceuticals, Inc
    ("Napo" or "the Company")

    Results of Special Meeting of Stockholders
    South San Francisco, California, 18 September 2008 - Napo Pharmaceuticals, Inc., (LSE: NAPL and NAPU) is pleased to announce that at the
Special Stockholders' Meeting held yesterday (the "Stockholders' Meeting") the following resolutions were proposed and passed:
    *     the cancellation of listing on the Official List of the Company's shares in the common stock of the Company with a par value of
US$0.0001 each (the "Common Shares");
    *     the adoption of new Bylaws in substitution for and to the exclusion of the current Bylaws. The new Bylaws do not inter alia
provide for pre-emption rights;
    *     the increase in the authorized number of Common Shares from 90 million to 115 million; and
    *     the authorization of the Board to effect a reverse stock split of the Common Shares in a ratio ranging from one-for-two to
one-for-five of all of the Company's then issued and outstanding Common Shares, the final ratio to be determined at the discretion of the
Board when declared, if ever.
    The resolutions numbered two to four above will come into effect immediately following the cancellation of the Company's listing on the
Official List.  
    Consequently the Company gives notice of its intention to cancel the listing of its Common Stock on the Official List. It is anticipated
that trading in the Common Stock on the London Stock Exchange's main market for listed securities will cease at the close of business on 15
October 2008, with the cancellation of the listing on the Official List taking effect at 8.00 a.m. on 16 October 2008 (such date being not
less than 20 Business Days following the passing of the delisting resolution as required by the Listing Rules).
    Two copies of the resolutions passed at the Stockholders' Meeting shall be submitted to the Financial Services Authority (the "FSA")
today and will be available for inspection at the FSA Document Viewing Facility from tomorrow, which is situated at:

    The Financial Services Authority
    25 The North Colonnade
    Canary Wharf
    London
    E14 5HS
    Tel: 020 7066 1000
    Defined terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the Circular
sent to shareholders and dated 5 September 2008.
    For more information please contact: 
    Napo Pharmaceuticals, Inc. 
Lisa Conte, Chief Executive Officer 
(001) + 650 616 1902 
    Charles Thompson, Chief Financial Officer 
(001) + 650 616 1903
    Buchanan Communications 
(44) + 020 7466 5000 
Tim Anderson, Mary-Jane Johnson 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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