FINRA Denies AutoChina's (AUTCF) Planned Three-for-Two Split
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AutoChina International Limited (OTC: AUTCF), announced that FINRA’s Department of Operations has denied the Company’s request to process the three-for-two stock split in the form of a stock dividend, which was previously announced on January 27, 2012.
As a result, AutoChina has determined not to proceed with the stock split. As of April 2, 2012, AutoChina had 23,538,919 million shares outstanding. FINRA’s denial and the Company’s determination to cancel the stock split did not impact the previously announced one-time special cash dividend in the amount of $0.25 per share, which was paid on February 15, 2012, to holders of record as of February 8, 2012.
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As a result, AutoChina has determined not to proceed with the stock split. As of April 2, 2012, AutoChina had 23,538,919 million shares outstanding. FINRA’s denial and the Company’s determination to cancel the stock split did not impact the previously announced one-time special cash dividend in the amount of $0.25 per share, which was paid on February 15, 2012, to holders of record as of February 8, 2012.
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