logo
Share SHARE
FONT-SIZE Plus   Neg

Hyperdynamics Announces 1-for-8 Reverse Split - Quick Facts

Oil and gas company Hyperdynamics Corp. (HDY) said Friday its Board has approved a 1-for-8 reverse stock split of its common stock that will take effect from July 1.

Hyperdynamics' common stock is scheduled to begin trading on a split-adjusted basis on the New York Stock Exchange when the market opens on July 1, under its existing ticker symbol, HDY, and under the new CUSIP number 448954 206.

When the reverse stock split becomes effective, every eight shares of issued and outstanding HDY common stock will be automatically consolidated into one issued and outstanding share, with no change in the par value per share. This will reduce the number of outstanding common shares of Hyperdynamics from about 168.4 million to nearly 21.1 million.

Proportionate voting rights and other rights of common stockholders will not be affected by the reverse stock split, other than as a result of the cashing out of fractional shares. Stockholders who would otherwise hold a fractional share of common stock will receive a cash payment in lieu of a fractional share.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of social network company Twitter Inc. (TWTR), jumped over 5 percent on Wednesday, after one of its cofounders Ev Williams dropped a hint during a television interview about the company's sale. Ev Williams, a Twitter cofounder and board member, was asked by Bloomberg TV about the company's... Mazda Motor Corp. (MZDAF.PK) is recalling over 190,000 CX-7 sport utility vehicles to fix a issue that could lead to loss of steering control. The recall involves CX-7 models from 2007 through 2012 manufactured between February 14, 2006 to May 9, 2012. The company said there have been no reports of... Over 68 million email address and passwords of Dropbox users were stolen by hackers, according to a report from Motherboard. Although, the account details were stolen during a previously disclosed breach that took place in 2012, the magnitude of the attack has come to light only now. Following...
comments powered by Disqus
Follow RTT