Posted AT 6:27 PM EDT on 03/07/08
Magna Entertainment to consolidate stock
Racetrack operator Magna Entertainment Corp. said Thursday that its board of directors has approved a reverse stock split.
Every 20 shares of MEC class B stock and class A stock will be consolidated into one share of MEC class B stock and class A stock, respectively.
The board and the company approved the move to allow the company to regain compliance with the Nasdaq Stock Market's $1 (U.S.) minimum bid-price continued-listing requirement.
The full text of this article has 141 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
