FXCM Inc Board Officially Approves Reverse Stock Split
- A prospective delisting from the New York Stock exchange has prompted the company’s board to propose a reverse stock split in July
According to a filing with the Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Commission (SEC), FXCM Inc (NYSE:FXCM) shareholders have upheld the decision of the company’s board to enact a reverse stock split of the company’s shares.
The board of FXCM Inc (NYSE:FXCM) proposed the move for shareholder approval back in July, when the company’s stock value was hovering around $1.30 per share. Facing the prospect of delisting from the New York Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin , the stockholders have approved the proposal by a huge margin at a meeting this Monday.
an overwhelming majority of 93 per cent voted for the approval
With 82,347,638 shares of common stock entitled to vote on the reverse stock split decision, a total of 62,189,676 shares were present in person or by proxy at the shareholder meeting. An overwhelming majority of 93 per cent voted for the approval of the board’s proposal with 7 per cent voting against and a marginal number of shareholders below one per cent abstaining from the vote.
According to NYSE rules, a company faces delisting only if its share price trades below $1.00 for 30 consecutive trading days. The first time that the FXCM Inc stock traded below a dollar per share was in the beginning of August, with the price rising back above the threshold at the beginning of this month.
Currently, shares of the company are hovering just above $0.80 per share after falling over 50 per cent since the end of June.
According to a filing with the Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Commission (SEC), FXCM Inc (NYSE:FXCM) shareholders have upheld the decision of the company’s board to enact a reverse stock split of the company’s shares.
The board of FXCM Inc (NYSE:FXCM) proposed the move for shareholder approval back in July, when the company’s stock value was hovering around $1.30 per share. Facing the prospect of delisting from the New York Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin , the stockholders have approved the proposal by a huge margin at a meeting this Monday.
an overwhelming majority of 93 per cent voted for the approval
With 82,347,638 shares of common stock entitled to vote on the reverse stock split decision, a total of 62,189,676 shares were present in person or by proxy at the shareholder meeting. An overwhelming majority of 93 per cent voted for the approval of the board’s proposal with 7 per cent voting against and a marginal number of shareholders below one per cent abstaining from the vote.
According to NYSE rules, a company faces delisting only if its share price trades below $1.00 for 30 consecutive trading days. The first time that the FXCM Inc stock traded below a dollar per share was in the beginning of August, with the price rising back above the threshold at the beginning of this month.
Currently, shares of the company are hovering just above $0.80 per share after falling over 50 per cent since the end of June.