Marr Technologies Clarifies Ownership Position in Calypte Biomedical
November 03 2003 - 2:25PM
PR Newswire (US)
Marr Technologies Clarifies Ownership Position in Calypte
Biomedical Member of the Marr Group Acquired a Total of 5.4 Million
Shares Through Open Market Purchase of Stock bringing total Calypte
holdings to 38,915,151 LONDON, Nov. 3 /PRNewswire-FirstCall/ --
Marr Technologies Limited, a member of the Marr Group, clarified
its ownership position in Calypte Biomedical (BULLETIN BOARD: CYPT)
today. According to a recent filing, the investment group owns
38,915,151 shares of Calypte's common stock. It acquired 33,515,151
of these shares directly from the company through private
placements comprising two subscriptions for 8,333,333 and
20,000,000 shares respectively and conversion of a debenture for
5,181,818 shares. In addition, the company has acquired 5.4 million
shares via open market purchases. The purchase prices for the
shares acquired in the open market ranged from $0.1225 to $1.31.
"We remain highly confident in Calypte's HIV screening technology,"
said Marat Safin, President of Marr Technologies Limited. "This is
why we elected to increase our already sizable investment in the
company though open market purchases. Unfortunately, there has been
some misinformation and misinterpretation about the way these
shares were acquired. The 5.2 million shares, which were referred
to in a press release Calypte issued on October 2, 2003 were
acquired through open market purchases, and not via private sales
or convertible financing structures. We hope our coming forward
will allow investors to focus on the potential for the company's
technology." About Marr Technologies Limited Marr Technologies
Limited is a member of the Marr Group of companies (the "Group").
The Group is a private group controlled by the Safin family and
administered from London. Marat Safin, a London School of Economics
graduate, is the President of the Group. The Group has a large and
diverse number of investments and projects globally, principally in
Europe, the Far East, the Middle East and the CIS, with substantial
investments in telecoms and technology projects. CONTACT: Andy D
Brown, Advisor to the Marr Group; 011-44-207627-9898 DATASOURCE:
Marr Technologies Limited CONTACT: Andy D Brown, Advisor to the
Marr Group, +011-44-207627-9898,
Copyright