Davstar Industries Ltd.: The maker of disposable...
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Davstar Industries Ltd.: The maker of disposable medical products said it plans to settle a pending shareholder lawsuit.
Under the settlement, Davstar will issue warrants to the shareholders allowing them to purchase common shares at $5 each through March 20, 1997. The warrants will be identical to those that are currently being publicly traded, according to the company.
The number of warrants being issued will have a market value of $1 million, based on the trading price of the company’s warrants during the 20 days before the distribution. The company said it is not admitting any liability through the settlement, which is still subject to court approval.
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