Reverse Split Planned
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Dow Jones
Moving to preserve its stock listing on the Nasdaq market, Metalclad Corp. said it will undertake a 1-for-10 reverse split of its common shares effective July 1 for holders of record at the market close Monday. A number of companies have faced delisting since Nasdaq imposed tougher restrictions, including a minimum stock price of $1 a share.
The stock, which has not traded above 50 cents a share over the last three months, closed Wednesday at 16 cents, up 3 cents.
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