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Loral To Seek Shareholder Approval Of Reverse Stock Split
New York - Feb 21, 2003 Loral Space & Communications said Wednesday that it will seek shareholder approval to implement a reverse stock split at its annual meeting on May 29, 2003, in order to, among other things, restore the company's compliance with New York Stock Exchange share price requirements. Loral meets all other criteria for continued listing on the Exchange, including having a market capitalization well in excess of the minimum required. The reverse stock split ratio of new shares to existing shares will be established and detailed in a proxy statement to be mailed to shareholders several weeks before the annual meeting. The date for determining shareholders of record entitled to receive notice of, and to vote at, the annual meeting is April 1, 2003. The reverse stock split transaction will be promptly enacted upon shareholder approval. As of January 31, 2003, there were 430,798,402 million shares of Loral Space & Communications common shares outstanding. Loral's average daily trading volume in January was 2.3 million shares. Community Email This Article Comment On This Article Related Links Loral Space & Communications SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Stratos Steps Closer To Xantic Acquisition
Bethesda MD (SPX) Jan 5, 2006Stratos Global recently announced it had taken a step closer toward the completion of the acquisition of Xantic, having received positive advice from the Works' Council in the Netherlands, and executed a definitive agreement to purchase Xantic from KPN and Telstra Corporation. |
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