Hope this happens to us also,look at the volume the last couple of day's
NewLead Holdings Ltd. Announces Cancellation of 1-for-5 Reverse Split of Common Shares PR Newswire
PIRAEUS, Greece, March 19, 2012
PIRAEUS, Greece, March 19, 2012 /PRNewswire/ -- NewLead Holdings Ltd. (NASDAQ: NEWL) ("NewLead" or the "Company") today announced that the Company's Board of Directors decided to cancel the 1-for-5 reverse stock split of its common shares that was scheduled to take effect upon the opening of the NASDAQ market today March 19, 2012, with a view to rectifying the minimum bid listing deficiency as previously announced.
NewLead decided not to proceed with the 1-for-5 reverse split of its common shares following the increase in the price as well as the increase in the volume of trading during the last five business days subsequent to the latest significant developments in the restructuring process and the deleveraging of the Company. As a result, NewLead will evaluate further and reconsider its strategy in the following days for the benefit of its shareholders.
Trading in NewLead's common shares have been halted and will be halted for all of today, March 19, 2012. Trading will resume on a normal unsplit basis when the NASDAQ market opens on March 20, 2012.
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