Premier Brands Inc. announces 1-for-40 reverse stock split.LA JOLLA La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , Calif.--(BUSINESS WIRE)--Aug. 23, 1996--Premier Brands Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :PRMR), a marketer and producer of sports cards and collectibles, Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant announced that its board of directors has approved a resolution implementing the 1-for-40 reverse stock split approved earlier by the company's shareholders. The company has announced that the 1-for-40 reverse stock split is to take effect beginning with all trading in the company's common stock on Tuesday, Aug. 27, 1996. By the terms of the reverse split, all of the company's outstanding common stock (``old common stock'') will be automatically converted into new common stock in a ratio of 40 shares of old common stock for each share of new common stock. All fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. resulting from the reverse split will be rounded up to the next whole share. Although the company believes that the reverse split will assist it in increasing the market price of the company's common stock with the possibility that it may no longer remain a ``penny stock'' as defined under Section 3a51-1 of the Securities Exchange Act of 1934, there can be no assurance that the reverse split of the common stock will result in any proportionate pro·por·tion·ate adj. Being in due proportion; proportional. tr.v. pro·por·tion·at·ed, pro·por·tion·at·ing, pro·por·tion·ates To make proportionate. increase in the market price of the common stock or that the common stock will, after effecting the reverse split, achieve a market value that is 40 times greater than its market price prior to the reverse split. For a current copy of the company's catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. of sports cards and collectibles, call 800/870-7677. CONTACT: Premier Brands Inc. Keith R. Lipscomb, 714/374-2626 |
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