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StockerYale Announces Shareholders Meeting to Authorize a Reverse Stock Split
August 27, 2003 |Estimated reading time: Less than a minute
Salem, N.H. — StockerYale Inc.'s Board of Directors has proposed three amendments to the company's articles of organization, authorizing a reverse split of the company's common stock.
The approval of any one of the three amendments would result in the company's stock price complying with the NASDAQ national market minimum bid price.
At a special meeting of shareholders to be held on October 6, 2003, shareholders will be asked to approve three amendments of the company's articles of organization. One of the three amendments would allow a 1-for-3 reverse split with the remaining two amendments authorizing either a 1-for-5 or a 1-for-7 reverse split. If approved by the shareholders, the Board of Directors would have until December 31, 2003, to implement one of the three amendments, or at its discretion, reject all three.
StockerYale Inc. is an independent designer and manufacturer of structured light lasers, light emitting diodes (LED), fiber optic and fluorescent illumination technologies as well as specialty optical fiber and phase masks for use in a wide range of markets and industries including the machine vision, telecommunications, aerospace, defense and security, utilities, industrial inspection, and medical markets. For more information, visit www.stockeryale.com.