US: Asconi poised to go non-reporting
Asconi Corporation has approved a one-for-30 reverse share split for its common stock.
The US-based wine and spirits distributor said yesterday (28 March) that its board and majority stockholders had approved the move, which would lead to the company ending the registration of its common stock and becoming a non-reporting company. As a result, Asconi would no longer be required to file periodic reports and other information with the Securities and Exchange Commission.
Although no date has been set for the split, the company has reserved the right to reverse the decision should it so decide.
"Following the Reverse Stock Split, Asconi anticipates that its shares of Common Stock will continue to be traded on the Pink Sheets Electric Quotation Service under the current symbol "ASCD.PK", but can make no assurances that any broker will make a market in Asconi's Common Stock," the company said.
The split would see holders of less than 30 shares and holders of shares not evenly divisible by 30 receive US$1.00 per pre-split share.
Asconi operates primarily in the wine and spirits markets of Eastern Europe.
Asconi Corporation has sold approximately 806,500 equivalent cases of wine during the three months ended September 30, 2005....
Asconi Corporation has unveiled its new trading symbol....
Asconi's delisting from the American Stock Exchange (AMEX) is pending after the company was refused the right of appeal....
Asconi Corporation has said that it has received notice from the American Stock Exchange (AMEX) that its securities have been delisted from the exchange because of non-compliance....
Net income for the second quarter at Asconi Corp. fell from around US$400,000 to US$300,000, the US-based Eastern European wines and spirits producer has announced....
Asconi Corporation said yesterday (30 August) that the American Stock Exchange (AMEX) had notified the company that it was not in compliance with requirements for a continued listing under the AMEX Ru...
The CEO of Asconi Corp has resigned....
The American Stock Exchange (AMEX) has approved Asconi's plan to regain compliance with certain of its continued listing standards....
- What's so special about Islay anyway? - Comment
- Six key trends for alcoholic drinks in 2016
- With MegaBrew sorted, is MegaBev next? - Research
- What do Bourbon and craft beer have in common?
- Ten things to know about spirits in the US
- Bacardi ups ante in US Havana Club row
- Alcohol industry warning over Kroger plan
- SABMiller hits back in UK corporation tax row
- Suntory bids for Lucozade, Ribena Nigerian network
- Diageo's Orphan Barrel The Gifted Horse - NPD
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global Whiskey Market 2016-2020
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research