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Thursday, April 23, 2009

A Regent Communications reverse-stock split is in the works

It’s one of the questions that will be answered at the June 3 shareholders meeting – most likely with a “yes.” Cincinnati-based Regent has faced delisting of its stock (RGCI) since February, due to its falling below $1 per share and having a very low market capitalization. In a filing with the Securities & Exchange Commission, Regent is proposing a stock split of as much as one share for every 30 shares owned. While Regent’s board of directors has approved the stock split, it must pass shareholder muster before it can be initiated. Regent stock closed at 15 cents a share.

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