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June 26,
2008
KELYNIAM CEO RETIRES 500,000 SHARES
Thursday June 26, 9:00 am ET
Little Rock, Arkansas--(BUSINESS WIRE)—Kelyniam
Global, Inc. (OTC:KLYG
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News), an advanced Engineering and Rapid
Prototyping Company announces today that Mr.
James Ketner, President and CEO, has retired
500,000 shares of his personal stock.
Mr. Ketner added “Some financing opportunities
are being afforded to the Company which
management feels is acceptable. By me retiring
personal stock to the Company Treasury, and then
the Company Treasury using this stock for
financing, our share structure will be no
different when this occurs than what the share
structure was yesterday.”
Kelyniam Global, Inc. in a press release dated
May 20, 2008 set resale restrictions on all
affiliate stock. The Company also stated in
that press release that 7 millions shares of Mr.
Ketner’s personal stock would only be used for
financing or acquisitions.
Mr. Ketner also added “Institutional investors
have been asking two significant questions.
One, “What protection do the shareholders have
against the affiliates continually diluting the
share structure with 144 stock.” That question
has been answered with the resale restriction
agreement. The second question is “What will
happen to the Company if something happens to
the CEO?” We are finalizing the succession
agreement as we speak, and will be announcing
that in the near future.” |