China Yida (CNYD) Announces One-for-Five Reverse Split
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China Yida Holding Company (Nasdaq: CNYD) announced that its Board of Directors has approved a one (1) -for- five (5) reverse stock split of the Company's issued and outstanding common stock, par value $0.001 per share. Written consent was received as according to Delaware law for this action from holders of a majority of the Company's common stock.
The reverse stock split will be effective at the market opening on November 19, 2012, at which time the Company's common stock will begin trading on the NASDAQ Stock Market on a split-adjusted basis. The Company's common stock will continue to trade under the symbol "CNYD" (although NASDAQ will add the letter "D" to the end of the trading symbol for a period of 20 trading days to indicate that the reverse split has occurred) but under a new CUSIP number, 16945D303.
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The reverse stock split will be effective at the market opening on November 19, 2012, at which time the Company's common stock will begin trading on the NASDAQ Stock Market on a split-adjusted basis. The Company's common stock will continue to trade under the symbol "CNYD" (although NASDAQ will add the letter "D" to the end of the trading symbol for a period of 20 trading days to indicate that the reverse split has occurred) but under a new CUSIP number, 16945D303.
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