This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

China ACM Announces Reverse Stock Split And Reincorporation In The State Of Nevada

BEIJING, Aug. 1, 2013 (GLOBE NEWSWIRE) -- China Advanced Construction Materials Group, Inc. (Nasdaq:CADC) ("China ACM", the "Company"), a provider of ready-mix concrete and related technical services in China, today announced that effective at 5:00 pm Eastern Time on August 1, 2013, the Company will effect a 1-for-12 reverse stock split of its common stock (the "Reverse Split").

Beginning with the opening of trading on August 2, 2013, the Company's common stock will continue to trade on the NASDAQ Capital Market on a Reverse Split adjusted basis with a new CUSIP number of 169365202. No fractional shares will be issued in connection with the Reverse Split. Shareholders who would otherwise be entitled to receive a fractional share in connection with the Reverse Split will receive a full share of common stock.

As a result of the Reverse Split, the stock price is expected to automatically increase proportionally. Although the purpose of this Reverse Spit is to maintain the continued listing of the Company's common stock on NASDAQ, the Company can give no assurance that this goal will be achieved.

On August 1, 2013, at 6 P.M. Eastern Time, after the completion of the Reverse Split, the Company will change its state of incorporation from Delaware to Nevada.

The reincorporation does not result in any change in the Company's headquarters, business, jobs, management, and location of any of its offices or facilities, number of employees, assets, liabilities or net worth. Management, including all directors and officers, remain the same as the management of the Company prior to the reincorporation.

Both the Reverse Split and the reincorporation were approved by shareholders holding the majority of the outstanding common stocks of the Company on June 28, 2013 at the annual meeting of shareholders.

About China Advanced Construction Materials Group, Inc.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs