ACL Reverse Stock Split

Wednesday, May 13, 2009

American Commercial Lines Inc. (NASDAQ:ACLI) (ACL) announced that its Board of Directors has approved implementation of a one for four reverse split of the company's outstanding shares of common stock. The reverse stock split will take effect prior to the opening of markets on Tuesday, May 26, 2009 and will be effective with respect to stockholders of record at the close of business on Monday, May 25, 2009.

As a result of the reverse stock split, each four shares of common stock will be combined into one share of common stock and the total number of shares of common stock outstanding (excluding treasury shares) will be reduced from approximately 50.9 million shares to approximately 12.7 million shares. ACL's stockholders authorized the reverse stock split at ACL's 2009 annual meeting of stockholders held May 11, 2009.

Stockholders will receive cash in lieu of any fraction of a share that any stockholder would otherwise be entitled to receive as a result of the reverse stock split.

American Commercial Lines Inc., headquartered in Jeffersonville, Indiana, is an integrated marine transportation and service company operating in the United States Jones Act trades, with approximately $1.2b in revenues and approximately 3,400 employees as of December 31, 2008.

(www.aclines.com)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Maersk Profit Plunges

Danish shipping and offshore energy conglomerate Maersk Group reported its profit at US$ 224 million for the first quarter of 2016, a drop of 86 percent compared to $ 1.

CMA CGM Announces Emergency Operational Surcharge for Zanzibar

CMA CGM has announced to its customers that there is increasing deterioration of the port congestion up to 15 days in Zanzibar, Tanzania, which is beyond their control.

Adani Ports profit Up

Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and part of Adani Group, has announced the financial results for the fourth quarter and year ended March 31,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0681 sec (15 req/sec)