Entertainment Gaming Asia (EGT) Says One-for-Four Split Effective June 12th
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Entertainment Gaming Asia Inc. (NYSE: EGT) announced a 1-for-4 split of the Company’s common stock and corresponding decrease in the number of authorized shares of common stock effective prior to the market open on June 12, 2012 (the “Reverse Split”). The Company’s shares will continue to trade on the NYSE MKT under the symbol EGT. In connection with this transaction, the Company has been assigned a new CUSIP number 29383V 206.
As of the effective date, every four shares of common stock of Entertainment Gaming Asia will automatically combine into one share of common stock. The Reverse Split will reduce the number of shares of outstanding common stock from approximately 120 million pre-split to approximately 30 million post-split. The number of authorized shares of common stock will be reduced from 300 million to approximately 75 million. Proportional adjustments will be made to the Company’s stock options and equity compensation plans. All fractional shares will be rounded up to the nearest whole number. The Reverse Split will not negatively affect any of the rights that accrue to holders of Entertainment Gaming Asia common stock or options.
Shareholders as of the effective date with outstanding certificates will be asked to exchange them for new certificates representing the post-split number of shares with the new CUSIP number.
As of the effective date, every four shares of common stock of Entertainment Gaming Asia will automatically combine into one share of common stock. The Reverse Split will reduce the number of shares of outstanding common stock from approximately 120 million pre-split to approximately 30 million post-split. The number of authorized shares of common stock will be reduced from 300 million to approximately 75 million. Proportional adjustments will be made to the Company’s stock options and equity compensation plans. All fractional shares will be rounded up to the nearest whole number. The Reverse Split will not negatively affect any of the rights that accrue to holders of Entertainment Gaming Asia common stock or options.
Shareholders as of the effective date with outstanding certificates will be asked to exchange them for new certificates representing the post-split number of shares with the new CUSIP number.
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