CAMPBELL, Calif., Nov. 21, 2011 /PRNewswire/ -- Move, Inc. (NASDAQ: MOVE), the leader in online real estate, today announced a previously approved 1-for-4 reverse split of its common stock (the "Reverse Stock Split") has been implemented. Trading on NASDAQ of the reverse stock split-adjusted shares of Move, Inc. common stock will commence at the opening of NASDAQ trading today. Move, Inc. shares will continue to trade on the NASDAQ Stock Exchange under the symbol MOVE, with the letter "D" added to the end of the trading symbol for 20 trading days, indicating a reverse stock split has been effected. The new CUSIP number for the Company's common stock following the Reverse Stock Split is 62458M 207.
The Reverse Stock Split became effective as of 5:00 p.m., Eastern time, on November 18, 2011, at which time every four (4) shares of the Company's issued and outstanding common stock were automatically combined into one (1) issued and outstanding share of the Company's common stock, without any change in the par value per share.
Regarding pre-reverse split shares held in book-entry form, the Company's transfer agent (currently BNY Mellon Shareowner Services) will send the stockholder a statement of the number of post-Reverse Stock Split shares of common stock held, in book-entry form, on behalf of the stockholder, including fractional shares as applicable. Regarding pre-reverse split shares held in certificate form, the Company's transfer agent will send the stockholder instructions regarding the exchange of outstanding pre-split stock certificates for book-entry shares of the company's common stock reflecting the Reverse Stock Split, including fractional shares as applicable. In cases where a stockholder's total number of shares owned before the Reverse Stock Split is not evenly divisible by four, then the number of post-reverse split shares issued to that stockholder will be rounded downward to the nearest ten-thousandth of a share. Proportional adjustments will be made to the Company's equity compensation plans to reflect the Reverse Stock Split.
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