News
Atari parent dates reverse share split
Tim Ingham Feb 18 2008, 11:34am
Infogrames stock movement due on March 4th; higher share price expected as a result
Infogrames Entertainment has announced the launch of a reverse stock split, under which each new share with a value of €1 will be exchanged for 100 existing shares with a par value of €0.01.
The exchange of shares will start at the opening of trading on March 4, 2008, when new Infogrames Entertainment shares will become listed on Euronext Paris.
The move was approved by an Infogrames shareholders’ meeting of November 15, 2006 in its eighth resolution.
Further to the Infogrames strategic plan, the reverse split will enable the company to benefit from a higher share price more in keeping with stock market standards and less subject to volatility.
In connection with the reverse split, trading in the Company's stock warrants (BSA) will be suspended for a period of five days, from and including February 27th through and including March 4th.
Another notice, spelling out the terms and conditions of the reverse split, will be issued by Euronext Paris on March 3rd, 2008.
