NOVT Board and Shareholders Authorize Reverse/Forward Stock Split and Reduction in Authorized Capital Stock to be Effective July 9, 2010
LOS GATOS, Calif., June 22 /PRNewswire-FirstCall/ -- NOVT Corporation (Pink Sheets: NVTP) today announced that at the 2010 Annual Meeting of Shareholders of NOVT held on May 21, 2010 (the "Annual Meeting"), the shareholders approved a proposal authorizing the Board of Directors of NOVT (the "Board") to effect a 1-for-5,000 reverse stock split (the "Reverse Stock Split") of NOVT's common stock, $0.01 par value (the "Common Stock"), such that shareholders owning fewer than 5,000 shares of Common Stock will have such pre-split shares cancelled and converted into the right to receive cash consideration in the amount determined by the Board, immediately followed by a 50-for-1 forward stock split of the Common Stock (the "Forward Stock Split" and...
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