B.O.S Announces 1-for-4 Reverse Split of Ordinary Shares Effective as of December 14, 2012
RISHON LEZION, Israel, Dec 14, 2012 (GlobeNewswire via COMTEX) --
The Company hereby announces that the reverse share split previously announced by the Company on October 31, 2012, shall become effective on December 14, 2012. Pursuant to 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.
As of December 13, 2012, there were 4,472,298 Ordinary Shares outstanding and after the reverse split there will be 1,118,081 Ordinary Shares outstanding. The exchange agent for the reverse split is American Stock Transfer & Trust Company, whose address is 6201 15th Avenue, Brooklyn, N.Y. 11219 (tel: (718) 921- 8317 or (877) 248-6417). Once effective, the post-split shares will trade on the Nasdaq Capital Market under the same symbol "BOSC".
B.O.S. Better Online Solutions Ltd. (Nasdaq:BOSC) is a leading provider of RFID and Supply Chain solutions to global enterprises, that help customers worldwide improve the efficiency of their logistics and organizational monitoring and control. BOS' RFID and Mobile division offers both turnkey integration services as well as stand-alone products, including best-of-breed RFID and AIDC hardware and communications equipment, BOS middleware, and industry-specific software applications. BOS' Supply Chain division provides electronic components consolidation services to the aerospace, defense, medical and telecommunications industries.
For more information, please visit:www.boscorporate.com
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: B.O.S. Better Online Solutions Ltd.
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