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UTStarcom Announces Results of Its Extraordinary Meeting of Shareholders and Effectiveness of One-for-Three Reverse Share Split

 UTStarcom Announces Results of Its Extraordinary Meeting of Shareholders and
              Effectiveness of One-for-Three Reverse Share Split

PR Newswire

BEIJING, March 21, 2013

BEIJING, March 21, 2013 /PRNewswire/ -- UTStarcom Holdings Corp. ("UTStarcom"
or the "Company") (NASDAQ: UTSI), a leading provider of media operational
support services and broadband equipment products and services, today
announced the official results of its extraordinary meeting of shareholders,
held on March 21, 2013 at 1:00 p.m. local time in Beijing, China. The
shareholders cast their votes as described below:

1. The shareholders approved, effective as of 4:30 p.m. Eastern Standard Time
on March 21, 2013, as an ordinary resolution, in accordance with Article 49 of
the Company's Amended and Restated Memorandum and Articles of Association,
that  the authorized share capital of the Company be amended by the
consolidation of the existing 750,000,000 Ordinary Shares of US$0.00125 par
value each into 250,000,000 Ordinary Shares of US$0.00375 par value each, such
that:

(i) the authorized share capital of the Company is amended to US$943,750
divided into 250,000,000 Ordinary Shares of a par value of US$0.00375 each and
5,000,000 Preference Shares of a par value of US$0.00125 each;

(ii) each existing issued 3 Ordinary Shares of US$0.00125 par value each be
consolidated into 1 Ordinary Share of US$0.00375 par value each and the
register of members of the Company be updated accordingly; and

(iii) any fractions of a share that result from the consolidation described
above be automatically repurchased by the Company at the Market Price (as
defined in the Company's Amended and Restated Articles of Association) of such
fractions on the date of this Extraordinary Meeting.

2. The shareholders approved, effective as of 4:30 p.m. Eastern Standard Time
on March 21, 2013, as a special resolution, that  the Amended and Restated
Memorandum and Articles of Association of the Company currently in effect be
amended and restated by their deletion in their entirety and the substitution
in their place of the Amended and Restated Memorandum and Articles of
Association attached to the proxy statement previously distributed to
shareholders.

On March 15, 2013, the Company received a formal notice from NASDAQ that it
was not in compliance with the listing requirements due to the Company's
Ordinary Shares closing below the $1.00 per share minimum bid price for 30
consecutive business days. The Company has 180 days to regain compliance with
the listing standards. To regain compliance, the closing bid price of the
Company's Ordinary Shares must be at least $1.00 per share for a minimum of
ten consecutive business days during the stated 180-day period.

As a result of the meeting, the one-for-three reverse split of the Company's
Ordinary Shares shall become effective as of 4:30 p.m. Eastern Standard time
on March 21, 2013, with trading currently expected to commence on the
post-reverse split-adjusted basis on the NASDAQ Global Select Market as of the
opening of trading on Friday, March 22, 2013.

The Company's Ordinary Shares will continue to be reported on the NASDAQ
Global Select Market under the symbol "UTSI," although NASDAQ will add the
letter "D" to the end of the trading symbol for a period of 20 trading days to
indicate that the reverse share split has occurred. The Company's Ordinary
Shares will have a new CUSIP number upon the effectiveness of the reverse
share split.

Every three shares of the Company's issued and outstanding Ordinary Shares,
upon effectiveness of the reverse share split, will convert automatically into
one issued and outstanding share of the Company's Ordinary Shares, subject to
the elimination of fractional shares, with an increase in the par value per
share from $0.00125 to $0.00375. The reverse share split will affect all
issued and outstanding Ordinary Shares, as well as Ordinary Shares underlying
stock options, restricted stock units, and other Ordinary Share-based equity
grants outstanding immediately prior to the effectiveness of the reverse share
split. The Company's transfer agent will distribute to shareholders of record
on March 21, 2013 instructions regarding how to exchange certificates
representing the previously outstanding shares for certificates representing
the new issued shares.

No fractional shares will be issued in connection with the reverse share
split. Shareholders who would otherwise hold a fractional Ordinary Share will
receive a cash payment in lieu of such fractional share based on the closing
price of the Ordinary Shares on the NASDAQ Global Select Market on the trading
day immediately before the effective date of the reverse share split.

Additional information about the reverse share split can be found in the
Company's proxy statement filed with theSecurities and Exchange
CommissiononFebruary 20, 2013, copies of which are available
atwww.sec.govor at http://utstarcom.investorroom.com/index.php?s=19.

About UTStarcom Holdings Corp.

UTStarcom is focused on providing next generation media operational support
services in the rapidly growing markets for TV over IP services and broadband
equipment products and services. UTStarcom is committed to meeting the
evolving needs of cable and broadband service providers to enable a more
personalized entertainment experience. The Company sells its media operational
support services and broadband equipment products and services to operators in
both emerging and established broadband and cable markets around the world.

UTStarcom was founded in 1991 and has traded on NASDAQ in 2000. It has
operational headquarters in Beijing, China and research and development
operations in China and India. In 2011, the Company deployed a revamped
growth strategy that concentrates on providing media operation support
services. For more information about UTStarcom, visit the Company's Web site
at http://www.utstar.com.

SOURCE UTStarcom, Inc.

Website: http://www.utstar.com
Contact: Jing Ou-Yang, UTStarcom Holdings Corp., +86-10-8520-5153,
jouyang@utstar.com; May Shen (Beijing), +86-10-8591-1951,
May.Shen@fticonsulting.com; Daniel DelRe (Hong Kong), +852-3768-4547,
Daniel.DelRe@fticonsulting.com; Eric Boyriven (New York), +212-850-5671,
Eric.Boyriven@fticonsulting.com
 
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