DGT Holdings Corp. (OTCBB: DGTC) (the “Company”) announced today that it has completed the previously announced reverse stock split at a ratio of 1-for-5,000 and forward stock split at a ratio of 5,000-for-1. Shares of common stock held by shareholders of record owning fewer than 5,000 shares on March 1, 2013 have been cancelled, and such shareholders will receive a cash payment of $13.50 a share.
For more information regarding the reverse/forward stock split, please refer to the Proxy Statement relating to the Company’s shareholder meeting held on February 27, 2013 that was previously mailed to shareholders.
The Company’s Common Stock will trade on the Over the Counter “OTC” Bulletin Board under the symbol “DGTCD” for the next 20 business days and then revert to “DGTC.”
Statements about future results made in this release may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are based on current
expectations and the current economic environment. DGT Holdings Corp.
cautions that these statements are not guarantees of future performance.
These statements involve a number of risks and uncertainties that are
difficult to predict, including, but not limited to: the ability of DGT
Holdings Corp. to introduce products as scheduled; obtaining necessary
product certification; implementation of its business plan; retention of
management; changing industry and competitive conditions; obtaining
anticipated operating efficiencies; securing necessary capital
facilities; favorable determinations in various legal matters; market
and operating risks from foreign currency exchange exposures; and
favorable general economic conditions. Actual results could differ
materially from those expressed or implied in the forward-looking
statements. Important assumptions and other important factors that could
cause actual results to differ materially from those in the
forward-looking statements are specified in the Company's filings with
the Securities and Exchange Commission.
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