Westell Says Hldrs Approve Reverse and Forward Splits, to Voluntarily Delist From Nasdaq
Westell Says Hldrs Approve Reverse and Forward Splits, to Voluntarily Delist From Nasdaq
Westell Technologies said it has notified Nasdaq of its intention to delist, adding it plans to file the needed form with the U.S. Securities and Exchange Commission on or about October 9. DJ Westell Says Hldrs Approve Reverse and Forward Splits, to Voluntarily Delist From Nasdaq
DJ Westell表示，Hldrs批准反向和正向拆分，自願從納斯達克退市
By Stephen Nakrosis
作者：斯蒂芬·納克西
Westell Technologies Inc. on Tuesday said its shareholders approved a plan to effect a 1-for-1,000 reverse stock split that will be immediately followed by a 1,000-for-1 forward stock split on October 1, and also said it planned to voluntarily delist its stock from the Nasdaq.
Westell Technologies Inc.週二表示，其股東批准了一項計劃，將實施1000股1股的反向股票拆分，隨後將於10月1日立即進行1,000股正向股票拆分。該公司還表示，計劃自願將其股票從納斯達克(Nasdaq)退市。
Westell Technologies said it has notified Nasdaq of its intention to delist, adding it plans to file the needed form with the U.S. Securities and Exchange Commission on or about October 9.
Westell Technologies表示，已通知Nasdaq有意退市，並補充稱，計劃在10月9日左右向美國證券交易委員會(SEC)提交所需表格.
As a result, the company said, it expects its shares will cease listing on the exchange on or about October 19.
因此，該公司表示，預計其股票將於10月19日左右停止在該交易所上市。
Westell Technologies previously said it is taking these steps "to avoid the substantial cost and expense of being a public reporting company and to focus the company's resources on enhancing long-term stockholder value."
Westell Technologies此前表示，它正在採取這些措施，“以避免作為一家公開報告公司的大量成本和支出，並將公司的資源集中在提高長期股東價值上。”
The company said as a result of its 1-for-1,000 reverse stock split, shareholders with fewer than 1,000 shares will see those shares converted into the right to receive $1.48 in cash, without interest, and will no longer be stockholders of the company.
該公司表示，由於1000股1股的反向股票拆分，持有1000股以下股票的股東將看到這些股票轉換為獲得1.48美元現金的權利，不計利息，將不再是公司的股東。
Those holding more than 1,000 shares will hold the same amount of shares following the forward stock split, Westell said.
Westell表示，在遠期股票拆分後，持有1,000股以上股票的公司將持有相同數量的股票。
Westell's stock finished the day's regular trading session with a 2.36% loss, closing at $1.24.
Westell的股票以2.36%的跌幅結束了當天的常規交易，收於1.24美元。
Following its delisting from Nasdaq, Westell said, its shares may be quoted on the OTC Pink Open Market.
Westell表示，在從納斯達克退市後，其股票可能會在場外粉色公開市場(OTC Pink Open Market)上市。
Westell also said it "anticipates savings of approximately $900,000 on an annual basis as a result of the proposed deregistration and delisting transaction."
Westell還表示，“預計擬議中的註銷和退市交易每年可節省約90萬美元。”
Westell Technologies provides wireless infrastructure solutions.
韋斯特爾技術公司提供無線基礎設施解決方案。
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
--寫信給斯蒂芬·納克希爾斯，電子郵件：stehen.naksim@wsj.com
(END) Dow Jones Newswires
(完)道瓊通訊社
September 29, 2020 17:44 ET (21:44 GMT)
2020年9月29日美國東部時間17：44(格林尼治標準時間21：44)
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