BERWYN, Pa., Feb. 16 /PRNewswire-FirstCall/ -- Encorium Group, Inc. (Nasdaq: ENCO), a full service multinational clinical research organization (CRO) conducting studies in over 30 countries for many of the world's leading pharmaceutical and biotechnology companies, today announced that it had filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware to affect a reverse split of the Company's common stock in the ratio of one-for-eight. The reverse stock split will be effective on February 16, 2010 at 5:00 p.m. EST. The Company's common stock will begin trading on the NASDAQ Capital Market at the market opening on February 17, 2010 on a split-adjusted basis. To denote the reverse stock split the Company's common stock will trade under the stock symbol "ENCOD" for a period of 20 trading days. After 20 trading days the Company's common stock will resume trading under the symbol "ENCO".
On January 8, 2010 the Company's stockholders approved an amendment to its Certificate of Incorporation, as amended, to affect a reverse stock split of shares of the Company's common stock issued and outstanding at a ratio to be established by our Board of Directors in its discretion of up to one for 10 (but not less than one for three). The Board of Directors approved a one-for-eight split.
The reverse stock split is intended to enable the per share trading price of the Company's common stock to satisfy the minimum bid price requirement for continued listing set forth in NASDAQ Marketplace Rule 5550(a)(1). As previou
|SOURCE Encorium Group, Inc.|
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