ABSOLUTELY WRONG! It says it plain as day that the DEP shareholders will receive restricted shares. SPNI shareholders will still have free trading shares.
Posted by: W3Research
In reply to: None
Date:4/10/2007 11:26:46 AM
Post #of 1120
No More SPNI Shares to Trade, only DEP etc ...
"SPNI's Board has agreed to complete a reorganization of its capital structure in the form of a split that will have one new share exchanged for each 432.3 shares of SPNI now outstanding. The resulting company will have 20,936,193 shares outstanding at the time the merger is complete after giving effect to the reverse split. DEP shareholders will hold newly issued restricted shares representing 94 percent of the outstanding shares of the combined companies."
And, you cannot Trade the New Rev. Split Shares
because they're Restricted.
W3Research
Raleigh, N.C.
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