USA: One Price Clothing To Implement Reverse Stock Split
One Price Clothing Stores, Inc announced that its board of directors will recommend to its stockholders an amendment of the company's Certificate of Incorporation that would authorise a reverse stock split of all issued and outstanding shares of the company's common stock. "The purpose of the reverse stock split is to increase the market price per share of our common stock above the minimum level required to maintain our listing on the Nasdaq National Market System, which we believe to be in the best interests of our stockholders," said Leonard M. Snyder, chairman and chief executive officer.
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