Printer Friendly

CONSUMAT SYSTEMS ANNOUNCES REVERSE STOCK SPLIT

 CONSUMAT SYSTEMS ANNOUNCES REVERSE STOCK SPLIT
 RICHMOND, Va., Sept. 21 /PRNewswire/ -- Consumat Systems


(NASDAQ: CSMT) announced today that the Company's Board of Directors has approved a reverse stock split whereby one new share of the Company's $3.00 par value Common Stock ("Consumat New") will be exchanged for three old shares, $1.00 par value, ("Consumat Old"), effective Sept. 30, 1992. The purpose of the reverse stock split is to comply with the NASDAQ Small Cap-Market's minimum bid price requirement in order to preserve the liquidity of, and market for, the Company's stock.
 Stockholders of record as of Sept. 30, 1992 are entitled to receive one share of Consumat Systems, Inc. $3.00 par value Common Stock for each three (3) shares of Consumat Old $1.00 par value Common Stock. Cash will be paid for each fractional share based on a price equal to the average of the closing bid and asked prices of Consumat Old stock on Sept. 30, 1992.
 Consumat Systems is the Richmond, Va. based Company which offers waste management services. These services include the design, construction and operation of waste-to-energy systems and landfills.
 -0- 9/21/92
 /CONTACT: Patricia B. Bradley, Consumat Systems, 804-746-4120/
 (CSMT) CO: Consumat Systems ST: Virginia IN: SU:


CM -- CH010 -- 1910 09/21/92 18:03 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 21, 1992
Words:216
Previous Article:ZIEGLER DECLARES QUARTERLY DIVIDEND
Next Article:DURIRON EXPECTS DISAPPOINTING THIRD QUARTER
Topics:


Related Articles
CONSUMAT SYSTEMS, INC. ANNOUNCES RESULTS
CONSUMAT SYSTEMS ANNOUNCES LETTER OF INTENT TO SELL CONSUMAT SANCO
CONSUMAT SYSTEMS ANNOUNCES COMMENCEMENT OF ACTION TO RESTORE REVERSE STOCK SPLIT DECLARED AS OF SEPT. 30, 1992
CONSUMAT ANNOUNCES REQUEST FOR NASDAQ EXTENSION DENIED
CONSUMAT SYSTEMS, INC. ANNOUNCES AGREEMENT TO SELL CONSUMAT SANCO, INC. TO NATIONAL WASTE INDUSTRIES, INC.
CONSUMAT SYSTEMS ENTERS INTO AN ESCROW WHICH IS INTENDED TO LEAD TO THE SALE OF ALL OF THE COMMON STOCK OF CONSUMAT SANCO
CONSUMAT SYSTEMS ANNOUNCES SALE OF LANDFILL OPERATION
CONSUMAT SYSTEMS, INC. CONSUMATES PLAN OF REORGANIZATION
CONSUMAT ANNOUNCES FIRST QUARTER RESULTS
Consumat Systems, Inc. Announces Name Change To Consumat Environmental Systems, Inc.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters