Synthesis Energy Systems, Inc. Announces a 1 for 8 Reverse Stock Split Effective Monday December 4, 2017 Under the New Stock Symbol SES
As a result of the reverse stock split, every eight shares of the issued and outstanding common stock were automatically converted into one newly issued and outstanding share of common stock, without any change in the par value per share. However, the number of authorized shares of common stock remains unchanged. Any fractional shares resulting from the reverse stock split have been rounded up to the nearest whole share. Accordingly, no fractional shares will be issued in connection with the reverse stock split and no cash or other consideration will be paid in connection with any fractional shares that would otherwise have resulted from the reverse stock split. Stockholders holding shares through a brokerage account will have their shares automatically adjusted to reflect the 1 for 8 reverse stock split. Existing stockholders holding common stock certificates will have the adjustments made automatically upon transfer of their shares and no further action is required to be taken by the stockholders.
The CUSIP number for the common stock will change to 871628202. Additional information regarding the reverse stock split can be found in the Company's Current Report on Form 8-K filed with the
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements and are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Although SES believes that in making such forward-looking statements our expectations are based upon reasonable assumptions, such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected by us. SES cannot assure you that the assumptions upon which these statements are based will prove to be correct. Please refer to our latest Form 10-K available on our website at www.synthesisenergy.com.
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