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Argonaut Technologies Announces Record Date for Initial Distribution of Funds
Tuesday June 7, 4:34 pm ET
REDWOOD CITY, Calif., June 7 /PRNewswire-FirstCall/ -- Argonaut Technologies (Nasdaq: AGNT - News) today announced that it has set the close of business on June 22, 2005 as the record date for the determination of stockholders entitled to participate in the initial distribution of funds, as described in its proxy statement dated May 2, 2005, relating to the sale of certain assets to Biotage AB. The amount of the initial distribution will be $0.70 per share and will be paid on July 8, 2005 to stockholders of record on the record date, consistent with expectations outlined in the May 2, 2005 proxy statement.
On June 3, 2005 the Company announced the close of the sale of the assets of its chemistry consumables business and certain assets of its process chemistry business, which constitute substantially all of its assets except for its cash, to Biotage AB (Stockholm: BIOTa.ST - News) of Uppsala, Sweden. As a result of this transaction, the Company no longer has an operating business and plans to wind-up its assets and liabiliti
