Terremark To Reverse Split Stock.
2005-04-04, HostMan.biz
Data center operator Terremark Worldwide Inc. (terremark.com) announced on Friday that its board of directors has authorized the company to seek stockholder approval for an amendment to its amended and restated certificate of incorporation to simultaneously carry out a one for ten reverse stock split, and a reduction in the number of authorized shares of its common stock from six hundred million shares to one hundred million shares.
The proposal will be submitted to Terremark's stockholders for approval at a stockholders meeting on May 16, 2005. On April 1, 2005, Terremark filed a preliminary proxy statement on Schedule 14A with the Securities and Exchange Commission relating to the special meeting.
The company advised stockholders to read the definitive proxy statement carefully because it will contain important information about the reverse stock split. The statement will also include information about the record date and voting, as well as the date, time and place of the special meeting of Terremark's stockholders.
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