Kingsway Financial Services (KFS) Approves 1-for-5 Reverse Stock Split
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Kingsway Financial Services Inc. (NYSE: KFS) announced that at the Annual and Special Meeting of Shareholders held in Toronto, Ontario, on May 31, 2012, the Company received shareholder approval for a share consolidation (or reverse stock split) of the Company's common shares.
The board of directors of the Company (the "Board") is authorized to effect the share consolidation if and when the Board shall deem appropriate to do so, but in any event no later than the close of business on August 1, 2012. The Board is also authorized to select the share consolidation ratio within the range of one (1) post-consolidation share for every two (2) pre-consolidation shares to one (1) post-consolidation share for every five (5) pre-consolidation shares.
The board of directors of the Company (the "Board") is authorized to effect the share consolidation if and when the Board shall deem appropriate to do so, but in any event no later than the close of business on August 1, 2012. The Board is also authorized to select the share consolidation ratio within the range of one (1) post-consolidation share for every two (2) pre-consolidation shares to one (1) post-consolidation share for every five (5) pre-consolidation shares.
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