Friday May 2, 08:41 AM
Vectrix says shareholders approve a 10-for-1 reverse stock split UPDATE
(Updates with timing of stock split, clarifies directors' roles)
LONDON (Thomson Financial) - Vectrix Corp., the zero-emission scooter company, said shareholders at its AGM approved an amendment to the company's certificate of incorporation, which will authorise a 10-for-1 reverse stock split.
The company said the stock split may be implemented at the discretion of the board at any time prior to the next AGM.
In addition, the company confirmed the appointments of Michael Boyle as chief executive officer, replacing Andrew MacGowan, and Robert Bond as interim chairman.
The term of Boyle ends in 2011, and that of Bond in 2009.
Boyle has an incentive stock option for 1.5 million shares exercisable at $0.1806 per share and 4 million shares of restricted stock, the company added.
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
