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Daniel Grizelj
- Nitrogen generators, air filtration systems, compressed air heaters and heated hoses supplier Autris (OTC:AUTR) said on Monday that it is set to effect a reverse stock split.
- The company said its board in conjunction with the majority shareholder has authorized a share consolidation at an exchange ratio of 1-for-25 to 1-for-80.
- The proposed reverse stock split is expected to result in the number of issued and outstanding shares reduced from the current 131,251,359 to between 5,250,054 and 1,640,642.
- The company said the board will determine the final split ratio and retain the authority to abandon the share consolidation at any time or to delay or postpone it.
- Source: Press Release