Mergers and Acquistions News
Categories: Hardware
September 30th 2008, 13:45PM
PowerSafe Technology has announced a reverse split of its outstanding shares of common stock on the basis of one post-consolidated share for three of its pre-consolidation shares.
The company said its board of directors has been authorised to take such action following the results of a special meeting of the shareholders of the company held for that purpose.
"The reverse split will become effective as of October 2nd 2008 or as soon as practicable thereafter," the firm said.
It added that following the split, it will have 2,358,333 shares of common stock issued and outstanding.
PowerSafe Technology said it will continue with its efforts to ensure Amplification Technologies is meeting its conditions for its pending takeover by the firm.
It added this deal is expected to be completed in the next few weeks.
PowerSafe first entered into a merger agreement with privately-held Amplification Technologies in April 2008.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)
- May 2011 (20)
- April 2011 (18)
- March 2011 (21)