Subsequent to the Meeting, on September 12, 2013, our Board of Directors approved the ratio of the reverse stock split to be a 1-for 5 reverse stock split, with such reverse stock split to be effective October 14, 2013, upon filing of the certificate of amendment to our Restated Certificate of Incorporation.
Replying to o08o.ugh64w's comments of 5:01 PM on 9-16-13:
Wouldn't it be a good idea to state where you obtained the text which you seem to be quoting verbatim? I'm catching up on PESI after months during which I didn't follow the company closely. If you're quoting one of their official statements I assume I'll soon see the text at their Website, but it seems to me to be a good idea to explain the source of your "pronouncements." Readers may wonder if an anonymous participant who's communicating from behind a screen name has pulled an official-sounding statement out of the air...
Appreciate that it had to be done. Just wonder whether management could have decoupled its recommendation to maintain the number of authorized shares and let s/h vote on it separately instead of having it go along with the R/S.