News Column


June 2, 2014

Item 8.01 Other Events

On May 30, 2014, Beeston Enterprises Ltd.("Beeston" or the "Company"), received approval from the Financial Industry Regulatory Authority ("FINRA") to effectuate a 1-for-10 reverse stock split of all of its issued and outstanding shares of common stock ( the "Reverse Split") in the market at the open of business on June 2, 2014. The Reverse Split was authorized and approved by the Board of Directors of the Company on April 18, 2014, to be effective as of the date of approval by FINRA. As previously reported in the Company's Current Report on Form 8-K dated April 18, 2014, when the Reverse Split becomes effective, the Company's trading symbol will temporarily change to "BESED". The added "D" will remain for 20 business days after which its trading symbol will revert back to "BESE". Concurrently therewith, every 10 shares of its pre-Reverse Split issued and outstanding shares common stock shall be automatically converted into one post-Reverse Split share of its common stock, without any change in the par value of the shares. All fractional shares which would otherwise result from the Reverse Split will be rounded up. Immediately prior to the Reverse Split the Company will have 266,093,479 common shares issued and outstanding and immediately after the Reverse Split it will have approximately 26,609,348 common shares issued and outstanding. The Company's authorized common stock is not affected by the Reverse Split. Proportional adjustments will be made to the Company's outstanding warrants which will be adjusted to reflect the Reverse Split. The new CUSIP number for the Company's common stock is 07712Q 304.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Edgar Glimpses

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters