NCI Building Systems To Reverse Split 1-For-5
February 22, 2010 (FinancialWire) — NCI Building Systems, Inc.’s (NYSE: NCS) board of directors has authorized a reverse stock split at a one-for-five ratio of its outstanding common stock.
The reverse stock split was approved by stockholders at the company’s annual meeting, held immediately before a meeting of its board on February 19, and is scheduled to be effective on or about March 5.
As a result of the reverse split, every five shares of NCI Building Systems’ common stock that are issued and outstanding will be automatically combined into one issued and outstanding share, without any change in the par value of such shares, subject to the elimination of fractional shares.
The company’s common stock, which is scheduled to begin trading on a split-adjusted basis when markets open on March 6, will continue to be traded on the New York Stock Exchange under the symbol “NCS” on a post-split basis, under a new CUSIP number 628852 204.
As of the effective date, the number of shares of NCI common stock outstanding will be around 18,086,390.
Houston-based NCI Building Systems is a manufacturer of metal products for the nonresidential building industry. NCI is comprised of a group of companies operating manufacturing facilities across the United States and Mexico, with additional sales and distribution offices throughout the United States and Canada.
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