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8-K - CURRENT REPORT - Pharma-Bio Serv, Inc. | pbsv_8k.htm |
Exhibit 99.1
Pharma-Bio Serv Announces Appointment of Kirk Michel as Chairman of
the Board of Directors and Announces Special Dividend
January 5, 2021
DORADO, PUERTO RICO / ACCESSWIRE / January 5, 2021
/ Pharma-Bio Serv, Inc.
("Pharma-Bio Serv" or the "Company") (OTCQB:PBSV), a compliance,
project management and technology transfer support consulting firm
that provides services to the pharmaceutical, biotechnology,
chemical, medical device, cosmetic, food and allied products
industries, today announced the appointment of Kirk Michel as
Chairman of the Board of Directors, effective January 4, 2021. Mr.
Michel has served as a director of the Company since January
2006.
With the appointment of Mr. Michel as Chairman, the Board of
Directors convened today to approve a Special Dividend of $0.075
per share for Shareholders as was done previously. The Special
Dividend will be payable on or about February 5, 2021 to
shareholders of record at the close of business on January 25,
2021.
Mr. Michel said in regard to this appointment, “I am grateful
to have the confidence of our Board in leading Pharma-Bio Serv
forward in the coming year. This past year has obviously been
challenging for many, and the dedication and hard work of our
executives and employees have allowed the Company to weather this
most difficult period while putting the Company on firm footing for
future growth.”
Victor Sanchez will continue serving as Chief Executive Officer of
the Company, reporting to the Board of Directors. Pedro Lasanta
will continue as Chief Financial Officer, reporting to Mr. Sanchez
and the Board of Directors Audit Committee. Mr. Sanchez remarked
“I fully expect a smooth transition with the Board leadership
change, as I’ve continued to have an extremely positive and
productive relationship with the entire Board from my first days
with the Company. Also, we are delighted to provide a dividend to
our many longtime and loyal shareholders.”
About Pharma-Bio Serv, Inc.
Pharma-Bio Serv is a compliance, project management, and technology
transfer support consulting firm, headquartered in Puerto Rico,
servicing the Puerto Rico, United States, Europe and Latin America
markets. Pharma-Bio Serv's core business is FDA and international
agencies regulatory compliance consulting related services. The
Company's global team includes leading engineering and life science
professionals, quality assurance managers and
directors.
Forward-Looking Statements
This news release contains "forward-looking statements" within the
meaning of the U.S. federal securities laws, which statements may
include information regarding the plans, intentions, expectations,
future financial performance, or future operating performance of
Pharma-Bio Serv. Forward-looking statements are based on the
expectations, estimates, or projections of management as of the
date of this news release. Although Pharma-Bio Serv's management
believes these expectations, estimates, or projections to be
reasonable as of the date of this news release, forward-looking
statements are inherently subject to significant business risks,
economic uncertainties, including any impacts of the coronavirus
(COVID-19) pandemic, and competitive uncertainties, or other
contingencies, which could cause its actual results or performance
to differ materially from what may be expressed or implied in the
forward-looking statements. Important factors that could cause
Pharma-Bio Serv's actual results or performance to differ
materially from the forward-looking statements include those set
forth in the "Risk Factors" section of Pharma-Bio Serv's Annual
Report on Form 10-K for the year ended October 31, 2019, and in its
other filings with the Securities and Exchange Commission, which
filings are available on www.sec.gov.
Pharma-Bio Serv disclaims any intention or obligation to update or
revise any forward-looking statements to reflect subsequent events
and circumstances, except to the extent required by applicable
law.
Company Contact:
Pedro J. Lasanta
Chief Financial Officer
787 278 2709
SOURCE: Pharma-Bio Serv,
Inc.