|
|
|
|
Conversion Services International Shares to Begin Trading on the American Stock Exchange Today, September 21, 2005
Company Completes 1-for-15 Reverse Split
EAST HANOVER, N.J., September 21, 2005 - Conversion Services International, Inc. (AMEX: CVN; "CSI"), a premier professional services firm focused on delivering the value in business intelligence, data warehousing and data management solutions to Global 2000 organizations and other businesses, announced that its common stock will begin trading on the American Stock Exchange effective today, September 21, 2005 under the symbol 'CVN.'
Additionally, CSI completed a 1-for-15 reverse stock split of the Company's common stock, effective after the close of business yesterday, September 20, 2005. As a result of the reverse split, the total number of common shares outstanding was reduced from approximately 811 million to approximately 54 million. In addition, the total number of authorized shares of common stock was reduced from 1 billion to 85 million.
Scott Newman, CSI's President, Chief Executive Officer and Chairman, commented, "We are delighted to begin trading on the AMEX tomorrow, and see it as an important milestone in the Company's development. This listing makes our stock eligible for investment by a broader range of funds, and should afford greater visibility for CSI."
Stockholders entitled to fractional shares resulting from the stock dividend will receive one extra post-split share. After effectiveness of the reverse stock split, CSI's transfer agent will notify the Company's stockholders and request that they surrender their certificates representing shares of pre-split common stock to the transfer agent so that certificates representing the appropriate number of shares of post-split common stock may be issued in exchange.
About Conversion Services International, Inc.
A Note on Forward-Looking Statements
|
|
|
