WALTHAM, Mass., Sept. 15 Inverness MedicalInnovations, Inc. (Amex: IMA), a leading provider of near-patient diagnostics,monitoring and health management solutions, today declared a dividend of $4.77per share on its Series B Convertible Perpetual Preferred Stock(Amex: IMA.PR.B). The dividend will be paid in shares of Series B stock in anamount per share equal to the quotient of (a) $4.77 divided by (b) 97% of theaverage of the volume-weighted average price per share of the Series B stockon the American Stock Exchange for each of the five consecutive trading daysending on the second trading day immediately prior to the record date of thedividend. Inverness will pay cash in lieu of any fractional shares resultingfrom the dividend. The dividend is payable on October 15, 2008 to holders ofrecord of Series B stock at the close of business on October 1, 2008.
This is the first dividend that the Company has declared and will pay onits Series B stock, and such payment will cover the amount of all dividendsaccrued from May 9, 2008, the original issuance date of the Series B stock,through September 30, 2008.
For more information about Inverness Medical Innovations, please visit ourwebsite at http://www.invernessmedical.com.
By developing new capabilities in near-patient diagnosis, monitoring andhealth management, Inverness Medical Innovations enables individuals to takecharge of improving their health and quality of life. A global leader inrapid point-of-care diagnostics, Inverness' products, as well as its newproduct development efforts, focus on infectious disease, cardiology,oncology, drugs of abuse and women's health. Inverness is headquartered inWaltham, Massachusetts.
SOURCE Inverness Medical Innovations, Inc.