B.O.S. Better Online Solutions Ltd. (BOSC) announced that the reverse share split previously announced by the Company on October 31, 2012, shall become effective on December 14, 2012.
As per the reverse split, each 4 Ordinary Shares, NIS 20.00 nominal value per share, will be converted into one Ordinary Share, NIS 80.00 nominal value per share. No fractional shares will be issued as a result of the reverse-split. Instead, all fractional shares will be rounded up to the next higher whole number of shares, the company said.
As of December 13, 2012, there were about 4.47 million Ordinary Shares outstanding and after the reverse split there will be 1.12 million Ordinary Shares outstanding.
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