Wednesday, October 10, 2012

GMX Resources Announces Special Meeting of Shareholders to Approve Reverse Stock Split ($GMXR)

Press release just came out:

a special meeting of the shareholders on November 29, 2012 to seek approval on the granting to the Board of Directors the discretionary authority to effect a reverse stock split (the "Reverse Stock Split Proposal") in a range of not less than 1-for-5 shares and not more than 1-for-13 shares

effecting the reverse stock split would, among other things, help the Company to: Meet certain continued listing requirements of the New York Stock Exchange ("NYSE"); Appeal to a broader range of investors to generate greater investor interest in the Company; and Improve the perception of our common stock as an investment security.
That's awesome!

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