|
|
 |
|
|
|
Saga Board OKs Reverse Stock Split
GROSSE POINTE FARMS, MI -- December 30, 2008: Saga Communications' board of directors has approved a reverse stock split of the company's class A and class B common stock, at a ratio to be determined, but not more than 1-for-4. The purpose, Saga said, is to provide the company with "flexibility with respect to possible listing and trading liquidity opportunities."
The board is reserving the right not to proceed with the split, depending on market or other circumstances, and has provided preliminary information to the Securities and Exchange Commission.
Saga trades on the New York Stock Exchange under the "SGA" symbol. In midday trading Tuesday, the stock was down 9 cents, to $1.36.
Comment on this story
E-mail this story to a friend
Sign up for Radio Headlines
|
|
|
|
|
|
|
From the Publisher
|
|
|
