Quaker Oats, for example, announced an upcoming stock split
and then acquired Snapple Beverage for $1.
The proposed Reverse/Forward Stock Split
, Right of First Refusal and Authorized Share Reduction are subject to approval by the holders of a majority of the issued and outstanding shares of Common Stock.
Under the terms of the reverse stock split
, each seven shares of issued and outstanding common stock will automatically be combined into and become one share of common stock.
00 per share minimum bid price requirement set forth in Nasdaq Marketplace Rule 4310(c) if a reverse stock split
is effected, as well as statements that are preceded by, followed by or include the words "believe," "plans," "intends," "expects, "anticipates," or similar expressions.
Hannah, Chief Executive Officer of Reliance, said, "We are pleased to announce our first two-for-one stock split
since our IPO in 1994.
Following the Reverse Stock Split
, Asconi anticipates that its shares of Common Stock will continue to be traded on the Pink Sheets Electric Quotation Service under the current symbol "ASCD.
A total of 5,570,106 votes were voted in favor of the reverse stock split
proposal, 41,204 votes against the reverse stock split
proposal and 28,165 votes abstained.
The company will file a revised preliminary proxy statement for its April 18, 2006 annual meeting containing important information regarding a proposed reverse stock split
at a one for thirty-five (1:35) ratio.
A definitive proxy statement containing important information regarding the proposed reverse stock split
will be mailed to all stockholders on or about June 21, 2006.
The reverse stock split
, which was announced on January 25, 2006, was approved by PTC stockholders at the Annual Meeting of Stockholders on March 10, 2005.
Pink Sheets: CELT), a financial services holding company with headquarters in Salt Lake City, reported that its board of directors unanimously adopted a resolution to seek stockholder approval to amend the company's Certificate of Incorporation to effect a going private transaction involving a 1-for-50,000 reverse stock split
of the outstanding shares of the company's common stock, with stockholders holding less than one full share following the reverse stock split
receiving Scrip for such fractional share.
Such reverse stock split
affects all outstanding shares held as of the close of trading on Tuesday, January 31, 2006, and Alloy's common stock will begin trading as adjusted for the reverse stock split
today, Wednesday, February 1, 2006.